Tunwal E-Motors IPO is a fixed price issue of Rs 115.64 crores. The issue is a combination of a fresh issue of 138.5 lakh shares aggregating to Rs 81.72 crores and an offer for sale of 57.5 lakh shares aggregating to Rs 33.93 crores. Tunwal E-Motors operates in the electric vehicle (EV) manufacturing sector.
Tunwal E-Motors IPO opens for subscription on July 15, 2024, and closes on 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 be listed on NSE SME with the tentative listing date fixed as Tuesday, July 23, 2024.
Tunwal E-Motors IPO price is ₹59 per share. The minimum lot size for an application is 2000 shares. The minimum amount of investment required by retail investors is ₹118,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹236,000.
Horizon Management Private Limited is the book-running lead manager of the Tunwal E-Motors, while Skyline Financial Services Private Ltd is the registrar for the issue. The market makers for the IPO of Tunwal E-Motorr are Nikunj Stock Brokers and Giriraj Stock Broking.
Tunwal E-Motors IPO Details:
| Company Name | Tunwal E-Motors Limited |
| Sector | Electric Vehicle Manufacturing |
| IPO Type | SME |
| IPO Open date | 15th July 2024 |
| IPO Close date | 18th July 2024 |
| OFS | |
| Listing Exchanges | NSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Tunwal E-Motors IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 1200 | 1,14,000 |
| HNI (Min) | 2 | 2400 | 2,28,000 |
Tunwal E-Motors IPO Timeline:
| IPO Open Date | 15th July 2024 |
| IPO Close Date | 18th July 2024 |
| Basis of Allotment | 19th July 2024 |
| Refund Initiation Date | 22nd July 2024 |
| Shares Credit to Demat | 22nd July 2024 |
| Listing Date | 23rd July 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Tunwal E-Motors’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Electric Vehicle Manufacturing industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Tunwal E-Motors and be a part of its growth. We will update our verdict once the IPO application window opens
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
