BikeWo GreenTech Limited is coming up with an IPO with a fresh issue of 38,86,000 shares worth INR 24.09 crores. The company aims to fund electric vehicle purchases, new dealerships, debt repayment, and corporate purposes.
BikeWo GreenTech IPO – Important Dates
| BikeWo GreenTech Limited IPO Date | September 20, 2024 to September 24, 2024 |
| BikeWo GreenTech Limited IPO Listing Date | September 27, 2024 |
| BikeWo GreenTech Limited IPO Price | INR 59-62 per share |
| BikeWo GreenTech Limited IPO Lot Size | 2000 Shares |
| BikeWo GreenTech Limited IPO Total Issue Size | INR 24.09 crores |
| BikeWo GreenTech Limited IPO Basis of Allotment | September 25, 2024 |
| BikeWo GreenTech Limited IPO Initiation of Refunds | September 26, 2024 |
| BikeWo GreenTech Limited IPO Credit of Shares to Demat | September 26, 2024 |
| BikeWo GreenTech Limited IPO Issue Type | Book Built Issue IPO |
| BikeWo GreenTech Limited IPO Listing At | NSE SME |
BikeWo GreenTech Limited IPO – Company Profile
BikeWo GreenTech Limited, established in 2016, started as a pre-owned car dealer and diversified in 2022 into marketing and selling electric two-wheelers. They sold franchises to ten dealers in Andhra Pradesh and Telangana.
Focusing on Tier-II and Tier-III cities, the business creates a multi-brand EV dealership chain, deepening its presence in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat, with future expansion into other regions.
The business operates through a dealership model, offering three types of dealerships to its dealers: State Dealership, Diamond Dealership, and Platinum Dealership. This provides flexible options for dealers to partner with and grow the brand.
Bikewo GreenTech Ltd IPO Fundamental Analysis
BikeWo GreenTech Limited’s financial analysis reveals a mixed performance. Revenue has grown steadily, with improved profitability and higher earnings per share. Increased equity and assets reflect business growth, while the current ratio indicates stronger liquidity.
- Revenue Trend: The revenue increased from ₹1,380.60 lakhs in March 2022 to ₹2,056.85 lakhs in March 2023. The revenue for the current year’s 12-month period ending March 2024 is INR 2,498.78 lakhs.
- Equity and Liabilities: Both equity and liability have shown a consistent increase over the periods, reflecting potential growth and expansion.
- Profitability: The profit after tax (PAT) has significantly increased from ₹15.19 lakhs in March 2022 to ₹167.21 lakhs by March 2024. This improvement in profitability could be a source of confidence among investors.
- Earnings per Share (EPS): The diluted EPS has risen from ₹0.30 in March 2022 to ₹2.51 by March 2024, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has risen from 2.13% to 13.94%, indicating an increase in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth. However, the current ratio has increased, indicating strengthening liquidity and potential challenges in meeting short-term obligations.
BikeWo GreenTech IPO Financial Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 March 2024 |
| Revenue (₹ in lakhs) | 1,380.60 | 2,056.85 | 2,498.78 |
| Equity (₹ in lakhs) | 713.34 | 723.14 | 1,676.70 |
| Expenses (₹ in lakhs) | 1,369.58 | 2,050.18 | 2,28131 |
| Profit and Loss After Tax (₹ in lakhs) | 15.19 | 9.80 | 167.21 |
| Diluted EPS only (₹) | 0.30 | 0.19 | 2.51 |
| Return on Net Worth (%) | 2.13 | 1.35 | 13.94 |
| NAV per Equity Share (₹) | 34.96 | 35.44 | 18.31 |
| Total Assets (in lakhs) | 1,497.41 | 1,962.20 | 3,151.35 |
| Total Liabilities (in lakhs) | 784.07 | 1,239.26 | 1,474.65 |
| Current Ratio (in times) | 1.29 | 9.67 | 1.49 |
BikeWo GreenTech Limited IPO Peer Comparison
No listed companies in India are engaged in all aspects of the business that BikeWo GreenTech Limited operates. Accordingly, providing an industry comparison of their company is impossible.
Bikewo GreenTech Ltd IPO Objective
The main objective of BikeWo GreenTech Limited is to fund the purchase of electric two-wheelers, capital expenditure for eleven new dealership stores, and prepay or repay a portion of existing borrowings.
- Funding purchase of electric two-wheeler vehicles for selling and supplying to their new and existing dealers: The company intends to utilize ₹6 crores to purchase electric two-wheelers from select manufacturers, aiming to maintain stock, reduce working capital expenses, and capitalize on higher margins through bulk purchasing and strategic pricing.
- Funding capital expenditure proposed to be incurred towards setting up eleven dealership stores in various states in India: The company plans to utilize INR 6.23 crores for capital expenditure to expand and open eleven new stores and workshops across critical cities, enhancing market presence and customer base while partnering with SV Associates for turnkey construction.
- Prepayment or repayment of all or a portion of certain loans availed by their company: The company aims to utilize INR 3.5 crores to prepay or repay a portion of outstanding loans, reducing borrowings, improving the debt-equity ratio, and reallocating internal accruals for business growth and expansion.
- General Corporate Purposes: The company will deploy funds for general corporate purposes, including strategic initiatives, general procurement, brand building, strengthening marketing activities, and addressing ongoing corporate exigencies or other purposes as needed.
BikeWo GreenTech IPO Risks And Challenges
BikeWo GreenTech Limited’s risk includes difficulties in forecasting, competition, brand management, and market adaptation. Customer or dealer retention issues, in-house marketing shifts, and competitive pressures could negatively impact financial performance and operations.
- The company initially focused on used four-wheelers but diversified into electric vehicles in 2022 and plans further expansion. Issues may include forecasting, competition, brand management, and adapting to new markets, which could impact financial performance.
- The company’s revenue depends on a multi-brand EV dealership model. Potential impacts include losing customers or dealers, manufacturers shifting to in-house marketing, changes in customer preferences, and competitive pricing pressures.
- The company’s dealership model emphasizes expanding in Tier-II and Tier-III cities, relying on local dealers for market penetration and revenue. Any issues with dealer retention, contract renewals, or performance could adversely affect business operations and results.
Bikewo GreenTech Ltd IPO – Industry & Market Potential
The global electric bike market, valued at $40,312 million in 2019, is expected to reach $118,657 million by 2030, growing at a CAGR of 10.5%. E-bikes vary from pedal-assist to full-throttle models.
The Indian electric 2-wheeler market, which led with 55% of EV sales in FY2022, saw H1 FY2023 sales exceed 4.56 lakh units. Expected to reach 67.14 lakh units by FY2027, it faces challenges with support systems and subsidies.
The shift to BS6 norms, rising petrol prices, and increased ICE-2W costs have driven E2W sales growth, projected to reach 67 lakh units by FY2027, comprising over 38% of 2W sales despite regulatory challenges.
BikeWo GreenTech Limited IPO – Type of Offer
BikeWo GreenTech Limited is coming up with an IPO with a fresh issue of 38,86,000 shares worth INR 24.09 crores. The company aims to fund electric vehicle purchases, new dealerships, debt repayment, and corporate purposes.
BikeWo GreenTech IPO Offer Size
The offer size of BikeWo GreenTech Limited is INR 24.09 crores. With the funds raised, the company aims to fund electric vehicle purchases, new dealerships, debt repayment, and corporate purposes.
BikeWo GreenTech Limited IPO Allotment Structure
BikeWo GreenTech Limited’s allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations. 196,000 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e. 196,000 shares, are reserved for market makers.
How to apply for the BikeWo GreenTech IPO?
To apply for the BikeWo GreenTech Limited IPO through Alice Blue, follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the BikeWo GreenTech Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the BikeWo GreenTech Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check BikeWo GreenTech IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the BikeWo GreenTech Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the BikeWo GreenTech Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the BikeWo GreenTech Limited IPO:
● Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the BikeWo GreenTech Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Exchange (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
BikeWo GreenTech Ltd IPO Offer Registrar
The registrar for the BikeWo GreenTech Limited IPO is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Bigshare Services Private Limited
Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre,
Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra, India
Telephone: +91 226 263 8200
Email: [email protected]
Website: www.bigshareonline.com
BikeWo GreenTech IPO – FAQs
1. What is the allotment date of the BikeWo GreenTech IPO?
The allotment date of the BikeWo GreenTech Limited IPO is September 25, 2024.
2. What is the price band of the BikeWo GreenTech IPO?
The price band of the issue is INR 59-62 per share.
3. What is the size of the BikeWo GreenTech IPO?
The offer size of BikeWo GreenTech Limited is INR 24.09 crores, consisting of a fresh issue of 38,86,000 shares. The company seeks funds for electric vehicle purchases, new dealerships, debt repayment, and corporate purposes.
4. What is the listing date of the BikeWo GreenTech IPO?
The listing date of BikeWo GreenTech Limited’s IPO is September 27, 2024.
