Tunwal E-Motors Limited

Company Name	Tunwal E-Motors Limited
Open Date	15-07-2024
Close Date	18-07-2024
Exchange	NSE SME
Lot Size	2000 Shares
Issue Price	₹59 per share
Issue Size	1,96,00,000 shares
Application Amount	₹ 1,18,000
Recommendation	Avoid

Originally formed and incorporated as ‘Tunwal EMotors Private Limited’ on December 21, 2018. The company has its registered office in Pune, Maharashtra. The company operates in the EV 2-wheeler sector. The company has 23 models including 7 variants of 2 wheelers, dealer base of over 225 across India. The company have their production facility across an area of 8000 sq. meters located at E 123-124 RIICO Industrial Area, Palsana, Sikar, Rajasthan. The company has 64 employees as of March 31, 2024

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Financial Summary in Lakhs

KPI’s	FY 22	FY 23	FY 24
Revenue	7,545.91	7,650.18	10,460.07
EBITDA	433.05	660.72	1,783.16
Net Profit	233.92	372.49	1,181.17
RoCE	25.77%	31.67%	56.27%
ROE	55.11%	45.32%	57.53%
P/E	48.76	32.60	20.70

Tentative Timeline

Opening Date	15-07-2024
Closing Date	18-07-2024
Basis of Allotment	19-07-2024
Initiation of Refunds	22-07-2024
Credit of Shares to Demat	22-07-2024
Listing Date	23-07-2024

Objects of the Issue

Funding of working capital requirements of the company.

Research & Development.

Pursuing Inorganic Growth.

General Corporate Expenses.

Contact Information

Registered Office	Tunwal E-Motors Limited Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S, No. 2164, Plot No. 31/11 Sadashiv Peth, Pune, 4110
Phone	+91-20-24336001
Email	cs@tunwal.com
Website	https://tunwal.com/

Offer Documents

Tunwal E-Motors IPO DRHP

Tunwal E-Motors IPO RHP

Registrar Details

Name	Skyline Financial Services Private Ltd
Phone	02228511022
Email	ipo@skylinerta.com
Website	https://www.skylinerta.com/ipo.php

IPO Reservation

Retail Shares Offered	50% of the Net issue
Other Shares Offered	50% of the Net issue

Shareholding Pattern

Share Holding Pre Issue (Promoters)	97.04%
Share Holding Post Issue (Promoters)	62.34%