BikeWo GreenTech Limited (NSE SME)
September 20, 2024 – September 24, 2024
| Price | ₹59 - ₹62 |
| Premium | ₹7 |
|---|---|
| Lot size | 2000 |
| Allotment | Sep 25, 2024 |
| Listing | Sep 27, 2024 |
Plot No. 502B, Amara Jyothi
Road No. 31, Jubilee Hills
Hyderabad-500033
Phone: +91 8121007731
Email: info@bikewo.in
Website: https://bikewo.in/
Last updated on 24-Sep-2024 18:31:01
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 186000 | 8004000 | 43.03 |
| NIB | 1752000 | 39590000 | 22.6 |
| RETAIL | 1752000 | 107200000 | 61.19 |
| Total | 3690000 | 154794000 | 41.95 |
| Retail Apps | 53600 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹1.88 | @8% ₹2.15 | @9% ₹2.42 | @10% ₹2.69 | @11% ₹2.96 | @12% ₹3.22 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 2000 | 124000 | 876 |
| HNI | 2 | 4000 | 248000 | 876 |
BikeWo GreenTech IPO Details
| 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 |
| Share holding pre issue | 9,157,250 |
| Share holding post issue | 13,043,250 |
| Market Maker portion | 196,000 shares |
BikeWo GreenTech IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 5% of the offer |
| Retail Shares Offered | Not less than 45% of the Offer |
| NII (HNI) Shares Offered | Not less than 45% of the Offer |
Key Performance Indicators
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 13.94% | 1.36% | 2.82% |
| ROCE | 10.87% | 2.64% | 5.77% |
| RONW | 13.94% | 1.35% | 2.13% |
| EPS (basic) | 2.51 | 0.19 | 0.3 |
| P/E Pre IPO | 33.95 | ||
| P/E Post IPO | 48.36 |
Financial Statement (Restated)
| Period Ended | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| Assets | 3,151.35 | 1,962.40 | 1,497.41 |
| Revenue | 2,514.21 | 2,061.86 | 1,391.71 |
| Profit After Tax | 167.21 | 9.8 | 15.19 |
| Net Worth | 1,676.70 | 723.14 | 713.34 |
| Total Borrowing | 1,419.35 | 1,239.26 | 784.07 |
| Amount in Lakhs | |||
About Company
Bikewo Green Tech Limited, incorporated in December 2006, is an electric two-wheeler retailer with operations across Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. The company operates through a dealership model, offering three types of dealerships: State Dealership, Diamond Dealership, and Platinum Dealership, allowing for scalable business growth. To further expand its footprint, Bikewo Green Tech plans to open new stores in cities like Raipur, Indore, Delhi, Chandigarh, Lucknow, Prayagraj, Patna, Bhubaneshwar, Nagpur, Bangalore, and Trivandrum. As of January 31, 2024, the company employed 36 people.
Strength
Leading EV Dealership: Bikewo Green Tech is a key dealership partner for major OEMs, focusing on high-growth electric vehicle segments.
Established Network and Storage: The Company has a robust distribution network and storage capabilities to support efficient operations and expansion.
Statewide Dealership Presence: With dealerships across multiple states, Bikewo Green Tech has a strong and growing market presence.
Weakness
Geographic Expansion Risk: Expanding into areas with limited operational history carries uncertainty, and there is no guarantee that these plans will be profitable or without adverse effects on business performance.
Reliance on EV Trading and Dealerships: The company's heavy dependence on trading and multi-brand EV dealerships makes it vulnerable to disruptions in this segment, which could impact its overall business and operations.
Dependence on Dealers for Revenue: A significant portion of revenue comes from dealers, and any drop in sales or revenue from key intermediaries could negatively affect the company's financial health.