On the last day of bidding for the Tunwal E-Motors IPO, the issue received a tepid response from the investors with an overall subscription of 12.31 times with retail investors subscribing 16.64 times.
The subscription period for the Tunwal E-Motors IPO, a fixed price issue amounting to Rs 115.64 crore, ended on July 18. This IPO includes a fresh issue of 138.5 lakh shares worth Rs 81.72 crore and an offer for sale of 57.5 lakh shares worth Rs 33.93 crore. Priced at Rs 59 per share, the minimum investment required for retail investors was Rs 118,000 for a lot size of 2000 shares.
The allotment for Tunwal E-Motors IPO will be finalised on Friday, July 19. Investors can check Tunwal E-Motors IPO allotment status Skyline Financial Services. Mentioned below is the step-by-step guide to check the allotment status of Tunwal E-Motors Limited.
Tunwal E-Motors IPO allotment status on skylinerta.com
Visit the official website of Skyline Financial Services here: https://www.skylinerta.com/ipo.php
Select "Tunwal E-Motors Limited" from the list of companies on the check applicant status page.
Enter the required information, such as the Application number, DPID/Client ID or PAN.
Click on the "Search" button.
The allotment status will be displayed on the screen.
Tunwal E-Motors IPO Listing Date
Shares of Tunwal E-Motors IPO will list on NSE SME with a tentative date of Tuesday, July 23.
About Tunwal E-Motors Limited
Tunwal E-Motors Limited, founded in December 2018, is an electric vehicle company that makes and sells high-quality electric scooters. The company has launched over 23 different models and operates in 19 states through a network of 256 dealers. These dealers also offer after-sales services like maintenance and repairs. The company's manufacturing plant, located in Palsana, Sikar, covers 8000 square meters and can produce up to 41,000 units annually. As of March 31, 2024, Tunwal E-Motors employs 64 permanent staff members and regularly trains them to ensure high productivity and safety standards.
In terms of financial performance, Tunwal E-Motors has shown growth, with revenue increasing by 37.85% and profit after tax (PAT) surging by 217.11% between the financial years ending March 31, 2024, and March 31, 2023.
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