BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 59 to ₹ 62 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 38,86,000 shares (aggregating up to ₹ 24.09 Cr) |
| Fresh Issue | 38,86,000 shares (aggregating up to ₹ 24.09 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 91,57,250 |
| Shareholding post issue | 1,30,43,250 |
| Market Maker portion | 1,96,000 shares |
About BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review
BikeWo GreenTech Limited is an electric two-wheeler retailer in India. They commenced their business operations in 2016 and the revenue from operations has been steady since then. The Company since its incorporation has been engaged in the business of buying and selling used four-wheelers from authorized dealers of reputed automobile brands (“New Car Dealers”).
As part of their pre-owned vehicle sale business, they procure used cars from New Car Dealers, who are approached by prospective customers, who wish to sell or exchange their existing vehicles for a new vehicle. After procuring used cars through such channels, they further display them for sale at various sites/parks and sell outlets of their designated used car dealers. They act as an intermediate channel between the New Car Dealers and their designated park and sell used car lots, by supplying the used cars for sale and earning a margin during the sale of such cars.
- BikeWo GreenTech IPO Overview:
- Issue Size: ₹24.09 crore
- Type: Entirely a fresh issue (38.86 lakh shares)
- Subscription Dates: September 20, 2024, to September 24, 2024
- Price Band: ₹59 to ₹62 per share
- Minimum Lot Size: 2000 shares
- Lead Manager: Khandwala Securities Limited
- Registrar: Bigshare Services Pvt Ltd
BikeWo GreenTech Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Company & Financials
Incorporated in December 2006,Bikewo Green Tech Limited is an electric two-wheeler retailer in India. The company's brand is in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra and Gujarat.
The company operates its business activities through dealership models. They offer three types of dealerships to their dealers:
- State Dealership
- Diamond Dealership
- Platinum Dealership
The company plans to open stores in Raipur, Indore, Delhi, Chandigarh, Lucknow, Prayagraj, Patna, Bhubaneshwar, Nagpur, Bangalore and Trivandrum.
Objectives of BikeWo GreenTech IPO
- The Company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- Funding the purchase of electric two-wheeler vehicles for selling and supplying the same to their new and existing dealers.
- Funding capital expenditure is 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.
- General Corporate Purposes.
BikeWo Green Tech IPO Review
The company is an emerging EV-two-wheeler retailer on a Pan-India basis. It is doing business on a third-party/franchise basis model. It posted growth in the top line, but the bottom line marked inconsistency. Based on FY24 earnings, the issue appears to be aggressively priced. Well-informed/cash surplus investors may park moderate funds for the long term.
BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review Financial Information
Latest Revenue
₹ 1,807.2 Cr
Profit After Tax
₹ 130.94 Cr
Net Worth
₹ 1,640.43 Cr
Total Borrowing
₹ 1,375.64 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 12 Dec 2023 | 3,016.07 | 1,807.2 | 130.94 | 1,640.43 | 1,375.64 |
| 31 Mar 2023 | 1,962.4 | 2,061.86 | 9.8 | 723.14 | 1,239.26 |
| 31 Mar 2022 | 1,497.41 | 1,391.71 | 15.19 | 713.34 | 784.07 |
| 31 Mar 2021 | 1,216.1 | 2,297.71 | 47.27 | 365.25 | 850.85 |
| Amount in ₹ Crore | |||||
BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review IPO GMP is currently trading at ₹711, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹773, which is 1146.77% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹62 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹711 and a lot size of 2000 shares.
BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-27 | ₹62 | ₹7 (11.29%) | 2024-09-27 |
BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review Key Performance Indicator
| KPI | Values |
|---|---|
| - |
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Competitive Strengths
1. Premium EV retail business in India with dealerships for brands such as Ola Electric, Quantum E-scooters, Bounce, GT-Force, etc.
2. Unique Business Model with presence in various states across India.
3. Continued expansion in the after-sales segment is driving steady revenue growth and higher profit margins.
BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review IPO Timeline
| IPO Open Date | Friday, September 20, 2024 |
| IPO Close Date | Tuesday, September 24, 2024 |
| Basis of Allotment | Wednesday, September 25, 2024 |
| Initiation of Refunds | Thursday, September 26, 2024 |
| Credit of Shares to Demat | Thursday, September 26, 2024 |
| Listing Date | Friday, September 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 24, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹ 1,24,000 |
| Retail (Max) | 1 | 2,000 | ₹ 1,24,000 |
| HNI (Min) | 2 | 4,000 | ₹ 2,48,000 |