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 |
