Tunwal E-Motors Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹59
Per ShareLot Size
2000 Shares
Minimum Investment
₹1,18,000
Issue Size
₹115.64 Cr
Face Value
₹2
Per ShareIPO Type
Fixed Price - SME
Retail Quota
50%
QIB Quota
0%
NII Quota
50%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Tunwal E-Motors Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
96.55%
Promoter Holding (Post-Issue)
61.97%
Issue Type
Fixed Price - SME
ISIN
INE0OXV01027
About the Company
Tunwal E-Motors Ltd, an upcoming force in the electric vehicle (EV) manufacturing sector, stands at the forefront of India's drive towards sustainable and eco-friendly mobility solutions. Established in 2018, the company has rapidly evolved to become a significant player in the market, specializing in the design, development, manufacturing, and distribution of high-quality electric two-wheelers.
Industry Overview
The electric two-wheeler (E2W) market in India is experiencing rapid growth, propelled by the country's status as one of the world's fastest-growing markets for electric vehicles. The two-wheeler segment, commanding over 70% of all registered vehicles in India, plays a pivotal role in this surge. E2Ws are increasingly popular for short-distance travel, particularly in urban areas, where they offer a convenient and efficient mode of transportation. Notably, more than 50% of all petrol transactions in India are related to two-wheelers. Beyond personal use, E2Ws are finding diverse applications in commercial sectors, including logistics fleets for food and groceries, parcel and courier services, and passenger transport-related services. The adaptability of these vehicles for navigating through traffic has led to testing for first and last-mile connectivity through shared trips and bike taxi services. A study suggests that the penetration of electric two-wheeler sales in India could exceed 80% by 2030, highlighting the sector's anticipated robust growth. The accompanying line graph, depicting registered E2W sales from December 2021 to March 2023, underscores the upward trajectory of E2W penetration in the Indian economy. In March 2023 alone, 86,067 registered E2W sales were recorded by the Society of Manufacturers of Electric Vehicles (SMEV), emphasizing the sector's growing prominence and consumer adoption. This summary captures the thriving landscape of the electric two-wheeler industry in India, driven by a surge in demand and a shift towards sustainable and efficient modes of transportation.
Company History
Tunwal E-Motors Limited was originally incorporated as "Tunwal E-Motors Private Limited" on December 21, 2018, vide certification of incorporation bearing Corporate Identity No. U34300PN2018PTC180950. under the provision of Companies Act, 2013 issued by the Assistant Registrar of Companies, of Maharashtra Pune, Subsequently Company was converted into Public Limited Company vide a fresh certificate of incorporation issued by Registrar of Companies, Pune consequent upon conversion from Private Limited to Public Company dated December 13, 2023, to its present name of "Tunwal E-Motors Limited" with the Corporate Identification Number U34300PN2018PLC180950.
Products & Services
- Tunwal E-Motors Ltd, an upcoming force in the electric vehicle (EV) manufacturing sector, stands at the forefront of India's drive towards sustainable and eco-friendly mobility solutions.
Growth Strategy
- Enhance Nationwide Presence.
- New EV Models Introduction.
- Invest in R&D to advance its technological capabilities and optimize costs.
- Global Market Exploration through Exports.
- Optimise capacity utilization.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets for the last reported financial year.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of up to 1,96,00,000 equity shares of face value of Rs. 2.00/- each of Tunwal E-Motors Limited for cash at a price of Rs. 59 per equity share (including a premium of Rs. 57 per equity share) ("Offer Price") aggregating up to Rs. 115.64 crores comprising of fresh offer of up to 1,38,50,000 equity shares aggregating to Rs. 81.72 crores ("Fresh Offer") and an offer for sale of up to 57,50,000 equity shares by Jhumarmal Pannaram Tunwal ("Selling Shareholders") aggregating to Rs. 33.93 crores ("Offer for Sale")("The Offer") and up to 9,80,000 equity shares aggregating to Rs. 5.78 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e. offer of up to 1,86,20,000 equity shares of face value of Rs. 2/- each at an offer price of Rs. 59 per equity share aggregating to Rs. 109.86 crores ("Net Offer"). The issue and the net issue will constitute 35.44% and 33.67% of the post-issue paid-up equity share capital of the company. The face value of the equity shares is Rs. 2/- each and the issue price is 29.50 times of the face value.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Pure EV player with an admirable position in the fast-growing Indian E2W market.
- Recognized brand in the eyes of the distributors and consumers.
- Present in 19 states through a distribution channel.
- Selling a wide variety of products which are well accepted in the market.
- Simple and innovative designs.
- The Company and Promoter of the company are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before the court and regulatory authority. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business, and financial status.
- Its success depends on the company's ability to successfully develop, introduce, manufacture, market and deliver new electric vehicle models of high quality on schedule and on a large scale, which may expose it to new and increased challenges and risks.
- The company depends on third parties for the supply of raw materials and does not have firm commitments for supply or exclusive arrangements with any of its suppliers. Loss of suppliers may have an adverse effect on its business, results of operations and financial condition.
- The company is dependent on few international suppliers for purchase of raw materials. Loss of any of these suppliers may affect its business operations.
- The company depends on its distributors and dealers for its revenue, and any decrease in revenues or sales from any one of its key intermediaries may adversely affect the company's business and results of operations.