BikeWo Green Tech Limited is an electric two-wheeler retailer in India. Since its inception, the company has engaged in the business of buying and selling used four-wheelers from authorized dealers of reputable automobile brands. As part of its pre-owned vehicle sale business, BikeWo procures used cars from New Car Dealers, catering to customers looking to sell or exchange their existing vehicles for new ones.

The upcoming IPO is a Book Built Issue amounting to ₹24.09 Crores, comprising a Fresh Issue of 38.86 Lakh Shares. The subscription period for the BikeWo IPO opens on September 20, 2024, and closes on September 24, 2024. Allotment is expected to be finalized by September 25, 2024, with shares slated for listing on the NSE SME on September 27, 2024.

The share price band for the BikeWo IPO is set at ₹59 to ₹62 per equity share, with a minimum lot size of 2,000 shares. Retail investors must invest a minimum of ₹124,000, while High-Net-Worth Individuals (HNIs) are required to invest ₹248,000 for 2 lots (4,000 shares).

Khandwala Securities Limited serves as the book-running lead manager, and Bigshare Services Private Limited is the registrar for the issue. Aftertrade Broking Private Limited acts as the sole market maker for this IPO.

As of September 20, 2024, the IPO subscription status will be available for real-time updates.

Allotment Details: The allotment date for the BikeWo IPO is set for September 25, 2024. To check the allotment status, follow these steps:

Navigate to the IPO allotment status page.

Select BikeWo Green Tech Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

Objectives of the IPO: Proceeds from the Fresh Issue will be allocated towards:

₹600.00 Lakhs for purchasing electric two-wheeler vehicles for distribution to both new and existing dealers.

₹623.38 Lakhs for capital expenditure aimed at establishing eleven dealership stores across various states in India.

₹350.00 Lakhs for the prepayment or repayment of outstanding borrowings.

General corporate purposes.

BikeWo Green Tech aims to play a significant role in the electric vehicle market, addressing the increasing demand for sustainable transportation options in India. By expanding its dealership network and product offerings, the company is well-positioned for future growth in the evolving automotive landscape.

For more information about Praveg Limited and its offerings, please visit their official website.

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