Tunwal E-Motors IPO price fixed to Rs. 59 per equity shares with a face value of Rs. 2 each. The IPO is a fixed price issue of Rs. 115.64 crores. The issue is entirely fresh issue of 1.96 crore equity shares.
Tunwal E-Motors IPO subscription starts on Monday, July 15, 2024 and ends on Thursday, July 18, 2024. The allotment for the Tunwal E-Motors IPO is expected to be finalized on Friday, July 19, 2024. Tunwal E-Motors IPO will list on NSE SME (small and medium enterprises) with tempting listing date fixed as Tuesday, July 23, 2024.
The minimum order quantity of the issue is 2,000 equity shares. The minimum amount of investment required for Retail is ₹1,18,000. The minimum bid size for sHNI is 2 lots aggregating to ₹2,36,000. The company has reserved 50% shares of the issue for QIB’s (Qualified Institutional Buyers), 15% for NII’s (Non-institutional Investors) and 35% for Retail.
Horizon Management Private Limited is book-running lead manager. HDFC Bank Limited is sponsor bank to the IPO. Skyline Financial Services Private Limited is registrar to the issue.
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Risk Factors
- 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.
Financials
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Net Worth | 10,126 | 8,880 | 6,224 |
| Revenue | 10,553.69 | 7,655.74 | 7,566.42 |
| PAT | 1,181.17 | 372.48 | 233.94 |
| PAT Margin | 11.29% | 4.87% | 3.10% |
| Net Cash Flow | 17.89 | -208.07 | -254.68 |
Objects of the issue
- To find the working capital requirements of the Company – Rs. 35 crores
- Research & Development
- To pursue inorganic Growth
- General Corporate Purposes
- Issue related expenses.
