Tunwal E-Motors Limited IPO

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Tunwal E-Motors Limited, originally incorporated as “Tunwal E-Motors Private Limited” on December 21, 2018, under the Companies Act, 2013, has rapidly evolved into a prominent name in the electric vehicle (EV) sector in India. The company transitioned to a public limited company on December 1, 2023, and subsequently, a Fresh Certificate of Incorporation was issued on December 13, 2023, by the Registrar of Companies, Pune.

Mission and Vision

Tunwal E-Motors Ltd is committed to pioneering innovation in EV manufacturing, focusing on providing user-friendly, technologically advanced, and affordable electric scooters. The company aims to contribute to a cleaner and more sustainable future for India by continuously developing and enhancing electric mobility solutions.

Organizational Structure

Tunwal E-Motors operates with a streamlined and efficient organizational structure comprising several key departments:
i. Sales and Marketing Department: Leads the creation and implementation of effective distribution strategies and manages diverse sales channels.
ii. Accounts Department: Ensures financial stability through comprehensive financial management, budgeting, auditing, and taxation.
iii. Dealer Development Department: Expands the dealership network, fosters strong relationships, and provides essential support and training.
iv. Human Resources (HR): Manages recruitment, training, and organizational culture development to sustain a talented and motivated workforce.
v. Research and Development (R&D): Focuses on innovation and continuous enhancement of existing EV products with advanced technology.
vi. Service and Warranty Department: Delivers a positive post-purchase experience through comprehensive after-sales service and support, including maintenance, repairs, and warranty claims.

Future Outlook

Tunwal E-Motors Limited is poised for sustained growth and success in the dynamic electric vehicle landscape of India. The company’s comprehensive business model, commitment to excellence, and strategic initiatives position it as an emerging player in the industry. Tunwal E-Motors continues to strive towards achieving its mission of delivering high-quality, affordable, and innovative electric mobility solutions, contributing significantly to India’s transition towards sustainable and eco-friendly transportation.

Conclusion

Tunwal E-Motors Limited stands at the forefront of India’s drive towards sustainable mobility, with a robust organizational structure, a clear mission, and a strong commitment to innovation and customer satisfaction. The company’s strategic initiatives and continuous growth underscore its potential to become a leading player in the electric vehicle sector.

Objects of the Tunwal E-Motors Limited IPO:

The company proposes to utilize the Net Proceeds from the Issue towards the following objects: i. Funding of working capital requirements of the Company. ii. Research & Development iii. Pursuing Inorganic Growth iv. General Corporate Expenses Total number of share issues :- i. Fresh issue is 13,850,000 shares, ii. Offer for sale is 5,750,000 shares.

Tunwal E-Motors Limited IPO Details:

Open Date: Jul 15 2024
Close Date: Jul 18 2024
Total Shares: 19,600,000
Face Value: ₹ 2 Per Equity Share
Issue Size: 115.64 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 59 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jul 23 2024

Promoters And Management:

Jhumarmal Pannaram Tunwal, is the Promoter, Chairman and Managing Director of the Company. He is director of the company since incorporation. He has over twelwe (12) years of experience in electronic component industry and more than 7 years in EV industry. He is currently responsible for overall management and affairs of the Company and entire group including devising investment strategies, developing industry networks for further business development and overall development of the business of the company. Amit Kumar Pannaram Mali, a Bachelor of Engineering graduate from Savitribai Phule Pune University, brings with him over 8 years of rich experience in the electric vehicle (EV) and allied EV services sectors. He contributes to the company with a comprehensive understanding of the EV sector and the automobile industry. In his role, he takes charge of day-to-day operations, specifically focusing on Sales and Marketing. With his knowledge and expertise, he likely plays a crucial role in driving sales strategies, promoting the company's products in the market, and ensuring operational efficiency within the dynamic landscape of electric vehicles and the automotive industry. Karan Kumar Saini, with a Bachelor of Science (BSc) degree, worked as an entrepreneur from 2014 to 2019, managing his own business operations. Since February 2020, he has been a part of the company. Currently, he primarily contributes his knowledge to the EV sector and the automobile industry. In his capacity, he takes charge of day-to-day operations of the Palsana Rajasthan manufacturing plant and focuses on operational efficiencies, within the company. With his expertise, he likely plays a key role in implementing production and manufacturing strategies, and ensuring smooth operational activities.

Financials of Tunwal E-Motors Limited IPO:

To be updated shortly.

Comparison With Peers:

To be updated shortly.

Recommendation on Tunwal E-Motors Limited IPO:

To be updated shortly.

Lead Manager of Tunwal E-Motors Limited IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Tunwal E-Motors Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Tunwal E-Motors Limited Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S, No. 2164, Plot No. 31/11 Sadashiv Peth, Pune, 4110 Phone: +91-20-24336001 Email: cs@tunwal.com Website: https://tunwal.com/

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