{"id":39675,"date":"2024-07-11T17:16:03","date_gmt":"2024-07-11T11:46:03","guid":{"rendered":"https:\/\/risingentrepreneurs.in\/index.php\/2024\/07\/11\/tunwal-e-motors-limited-ipo-opens-on-july-15-2024\/"},"modified":"2024-07-11T17:16:03","modified_gmt":"2024-07-11T11:46:03","slug":"tunwal-e-motors-limited-ipo-opens-on-july-15-2024","status":"publish","type":"post","link":"https:\/\/risingentrepreneurs.in\/index.php\/2024\/07\/11\/tunwal-e-motors-limited-ipo-opens-on-july-15-2024\/","title":{"rendered":"Tunwal E-Motors Limited IPO Opens On July 15, 2024"},"content":{"rendered":"<div>\n<div>\n<p><strong>Mumbai (Maharashtra) [India], July 11: <\/strong>Tunwal E-Motors Limited, aprominence\u00a0player in the electric vehicle (EV) manufacturing sector, has announced its plan to go public with an Initial Public Offering (IPO) on July 15, 2024. The company aims to raise\u00a0\u20b9\u00a0115.64 crores with this IPO, and shares will be listed on the NSE Emerge platform.\u00a0The issue size is\u00a0Up To\u00a01,96,00,000\u00a0equity shares at face value of\u00a0\u20b9\u00a02\u00a0each.<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<p>\u25cf\u00a0Non-Institutional Investors (NII) \u2013\u00a093,10,000\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Retail Individual Investors (RII) \u2013\u00a093,10,000\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Market Maker \u2013\u00a09,80,000\u00a0Equity Shares<\/p>\n<p>The net proceeds from the IPO will be utilized to meet working capital requirements, research and development, pursuing inorganic growth, and general corporate purposes. The issue will open for subscription\u00a0from July 15, 2024, and closes\u00a0on July 18, 2024.<\/p>\n<p>The\u00a0Lead Manager to the Issue\u00a0is\u00a0Horizon Management Private Limited.\u00a0The Registrar to the Issue is\u00a0Skyline Financial Services Private Limited.<\/p>\n<p>Mr Jhumarmal Pannaram Tunwal,\u00a0Chairman\u00a0&amp;\u00a0Managing Director\u00a0of\u00a0Tunwal E-Motors, Limited expressed,\u00a0\u201cWe are delighted to embark on this significant milestone in our journey towards reshaping the electric vehicle industry. This IPO represents more than just a financial\u00a0opportunity; it\u00a0signifies our strong belief in the growth potential of the EV sector and our resilient commitment to driving sustainable urban mobility solutions.\u00a0<\/p>\n<p>We are immensely proud of our achievements since our inception, having introduced over 23 models, including 7 variants of electric scooters. We see immense opportunities ahead as the demand for eco-friendly transportation solutions continues to rise globally. We are confident that our innovative approach, coupled with strategic investments, will not only solidify our market position but also contribute significantly to advancing the EV industry.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], July 11: Tunwal E-Motors Limited, aprominence\u00a0player in the electric vehicle (EV) manufacturing&#8230;<\/p>\n","protected":false},"author":2,"featured_media":39676,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1331],"class_list":["post-39675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts\/39675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/comments?post=39675"}],"version-history":[{"count":0,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts\/39675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/media\/39676"}],"wp:attachment":[{"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/media?parent=39675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/categories?post=39675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/risingentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/tags?post=39675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}