BikeWo GreenTech Limited

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They are a dynamic electric two-wheeler retailer in India, having commenced our operations in 2016. Their journey began with a focus on the pre-owned four-wheeler market, where they established a robust business model by partnering with authorized dealers of renowned automobile brands (“New Car Dealers”). In this segment, we procured used cars from customers looking to trade in or sell their vehicles when purchasing new ones. These vehicles were then displayed for sale at various sites managed by their network of designated used car dealers, allowing them to earn a margin on each sale.

As they progressed, they identified a growing opportunity in the electric vehicle (EV) sector, particularly within India’s rapidly evolving mobility landscape. To capitalize on this, they diversified their business operations in 2022, entering the electric two-wheeler market. Their strategy involved creating a multi-brand channel for EV two-wheelers, primarily focusing on Tier-I, Tier-II, and Tier-III cities. They offered franchises under their brand, establishing a strong dealership network that provides high visibility and accessibility to customers.

Their dealership model is a cornerstone of our business strategy, emphasizing deep regional penetration before expanding into new markets. This approach has enabled them to establish a strong presence in key markets like Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. By partnering with local dealers who have an in-depth understanding of their markets, they have been able to tailor their offerings to meet regional demands effectively, thereby fostering strong brand recognition and customer loyalty.

Looking ahead, they are committed to further expanding their store network within their current regions while gradually extending their presence to Rajasthan, Kerala, Karnataka, and West Bengal. This cluster-focused expansion strategy is designed to consolidate their market position and ensure sustainable growth in the fast-paced electric vehicle sector in India.

Through their dual focus on the pre-owned car market and the burgeoning electric two-wheeler segment, they are well-positioned to continue their growth trajectory, leveraging their strong dealer network, market understanding, and commitment to customer satisfaction.

Objects of the BikeWo GreenTech Limited:

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: i. Funding the purchase of electric two-wheeler vehicles for selling and supplying the same to our new and existing dealers; ii. Funding capital expenditure proposed to be incurred towards setting up eleven dealership stores in various states in India; iii. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and iv. General Corporate Purposes.
DRHP of BikeWo GreenTech Limited
RHP of BikeWo GreenTech Limited

BikeWo GreenTech Limited Details:

Open Date: Sep 20 2024
Close Date: Sep 24 2024
Total Shares: 3,886,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 24.09 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 59 - 62 Per Equity Share
Listing At: NSE Emerge
Listing Date: Sep 27 2024

Promoters And Management:

Katepalli Manideep, aged 32, is a Promoter, Chairman, and Managing Director of the Company. He studied computer science and engineering at Jawaharlal Nehru Technological University, Hyderabad. With over seven years of experience in the automobile industry, he previously served as Manager of Operations at Brand Reach Private Limited. Currently, he leads the sales and marketing division of the Company, overseeing branding and advertisement. He has been a Promoter since the Company's inception and has served as Managing Director since November 20, 2023. Rama Mohan Thammineni, aged 46, is the Whole-time Director of the Company. He holds a bachelor’s degree in commerce from Osmania University and an executive MBA in financial management from Indian School of Management & Studies. With over a decade of experience in finance, accounts, and material management, he has previously worked with K. Rama Krishna Contractors, Sujana Energy, and Bartronics Global Solutions. He currently oversees the financial, accounting, and stock operations of the Company and has been with us since February 3, 2022. Taj Unnissa Begum, aged 23, is a Non-Executive Director of the Company. She holds a bachelor’s degree in commerce and a master’s in business administration from Osmania University. With over two years of experience in administration and consultancy, she previously worked as an administrator at Marica High School and is currently an immigration sales consultant at Global Tree Overseas Careers Private Limited. She has been with the Company since November 20, 2023.

Financials of BikeWo GreenTech Limited: 

To be updated shortly.

Comparison With Peers:

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Recommendation on BikeWo GreenTech Limited:

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Lead Manager of BikeWo GreenTech Limited:

  1. Khandwala Securities Limited

Registrar of BikeWo GreenTech Limited:

  1. Bigshare Services Private Limited

Company Address:

BikeWo GreenTech Limited Plot No. 502B, Amara Jyothi Road No. 31, Jubilee Hills Hyderabad-500033 Phone: +91 8121007731 Email: info@bikewo.in Website: https://bikewo.in/

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