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

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.

BikeWo GreenTech IPO Objectives

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

1. Funding the purchase of electric two-wheeler vehicles for selling and supplying the same to our new and existing dealers;
2. Funding capital expenditure proposed to be incurred towards setting up eleven dealership stores in various states in India;
3. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
4. 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

BikeWo GreenTech IPO Reservation

BikeWo GreenTech IPO Timeline

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