The SME IPO of Tunwal E-Motors opened for subscription earlier today and will close on July 18. The company aims to raise about Rs 115 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
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1) Tunwal E-Motors IPO size
The IPO is a combination of a fresh equity issue of 13.8 lakh shares and an OFS of Rs 33.93 crore.
2) Tunwal E-Motors IPO price bandThe company is offering its shares at Rs 59 apiece, and investors can bid for 2000 shares in 1 lot.
3) Tunwal E-Motors GMPIn the unlisted market, the company’s shares are trading with a GMP of Rs 25, which translates to a listing gain of around 42% if the trends sustain
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4) About Tunwal E-Motors GMPTunwal E-Motors company has rapidly evolved to become a significant player in the electric vehicle manufacturing market, specialising in the design, development, manufacturing, and distribution of high-quality electric two-wheelers.
5) Industry OverviewThe 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.
6) Tunwal E-Motors GMP financial performanceFor the year ended March 2024, the company clocked total revenues of Rs 105 crore and net profit of Rs 11.81 crore.
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7) Objects of the offerThe net proceeds from the public offer will be used for funding working capital, research and development, pursuing inorganic growth, and general corporate purposes.
8) Lead managers and RegistrarHorizon Management is acting as the lead manager to the issue and Skyline Financial Services is the registrar.
9) Issue structureAbout 50% of the offer is reserved for retail investors and the rest 50% for other investors.
10) Important datesThe IPO opened on July 15 and will close on July 18. The final allotment will likely be made on July 19. The company’s shares will likely be listed on July 23.
