Tunwal E-Motors IPO

Incorporated in December 2018, Tunwal E-Motors Limited is an electric vehicle (EV) manufacturing company that specializes in designing, developing, manufacturing, and distributing high-quality electric two-wheelers. The company has introduced over 23 different models in the local market to cater to various needs. The company has its presence in 19 states through a network of more than 256 dealers. The company has a network of around 256 dealers in India. When a dealer is appointed, the company requires them to provide after-sales services such as routine maintenance, battery management, diagnostics, safety checks, and component replacement to customers. The manufacturing unit of the company is located in Palsana, Sikar spread across an area of 8000 square meters. Tunwal E-Motors Ltd manufactures electric bikes at its plant in Palsana and has the capacity to produce up to 41000 units. As of March 31, 2024, the company had 64 permanent employees. The company trains its employees regularly to increase operational excellence, improve productivity, and maintain compliance standards for quality and safety.

The company proposes to utilize the Net Proceeds from the Issue towards the following objects: Funding of working capital requirements of the Company. Research & Development Pursuing Inorganic Growth General Corporate Expenses

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