BikeWo GreenTech Limited IPO

NiftyTrader • September 16, 2024

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BikeWo GreenTech Limited IPO

BikeWo GreenTech Limited IPO opens on September 18, 2024, and closes on September 20, 2024. The allotment for the BikeWo GreenTech Limited IPO is anticipated to be completed on Monday, September 23, 2024. The IPO will be tentatively listed on the NSE and SME on Wednesday, September 25, 2024.

BikeWo GreenTech Limited IPO’s price band is Rs 59 to Rs 62 per share. The IPO is a book-built issue of Rs 24.09 crores. The issue is entirely a fresh issue of 38.86 lakh shares.

BikeWo GreenTech IPO Details

IPO Date	September 18, 2024 to September 20, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹59 to ₹62 per share
Lot Size	2000 Shares
Total Issue Size	3,886,000 shares (aggregating up to ₹24.09 Cr)
Fresh Issue	3,886,000 shares (aggregating up to ₹24.09 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre-issue	9,157,250
Shareholding post-issue	13,043,250
Market Maker portion	196,000 shares

BikeWo GreenTech IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹124,000
Retail (Max)	1	2000	₹124,000
S-HNI (Min)	2	4000	₹248,000

BikeWo GreenTech IPO Objectives

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:

Funding the purchase of electric two-wheeler vehicles for selling and supplying the same to our new and existing dealers;
Funding capital expenditure proposed to be incurred towards setting up eleven dealership stores in various states in India;
Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
General Corporate Purposes.

About BikeWo GreenTech Limited

Founded in December 2006, Bikewo Green Tech Limited specializes in retailing electric two-wheelers across India. With a strong presence in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat, the company operates through a tiered dealership model, including State, Diamond, and Platinum Dealerships. Plans are underway to expand into cities like Raipur, Indore, Delhi, and more. As of January 31, 2024, the company employs 36 people. Bikewo stands out with its premium EV offerings, including brands like Ola Electric and Bounce, and a unique business model that supports steady revenue growth through a growing after-sales segment.

BikeWo GreenTech Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3,151.35	1,962.4	1,497.41
Revenue	2,514.21	2,061.86	1,391.71
Profit After Tax	167.21	9.8	15.19
Net Worth	1,676.7	723.14	713.34
Total Borrowing	1,419.35	1,239.26	784.07
			Amount in ₹ Lakhs

BikeWo GreenTech IPO Reservation

Investor Category	Shares Offered
Retail Shares Offered	Not less than 35.00% of the Net offer
QIB Shares Offered	Not more than 50.00% of the Net offer
NII (HNI) Shares Offered	Not less than 15.00% of the Net offer

BikeWo GreenTech IPO Timeline

BikeWo GreenTech IPO opens on September 18, 2024, and closes on September 20, 2024.

IPO Open Date	Wednesday, September 18, 2024
IPO Close Date	Friday, September 20, 2024
Basis of Allotment	Monday, September 23, 2024
Initiation of Refunds	Tuesday, September 24, 2024
A credit of Shares to Demat	Tuesday, September 24, 2024
Listing Date	Wednesday, September 25, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 20, 2024