Bikewo Green Tech Limited, a pioneering electric vehicle (EV) company, is gearing up for its Initial Public Offering (IPO) scheduled to run from September 20, 2024, to September 24, 2024. The company, known for its commitment to accelerating EV adoption in India, is offering up to 3,886,000 equity shares, which includes a market maker portion of 196,000 shares. The IPO will be conducted through a 100% book-building process, with shares priced between Rs. 59 and Rs. 62 per equity share. The face value of each share is Rs. 10, and the tick size is Re.1.

Investors are advised to use the Application Supported by Blocked Amount (ASBA) facility for their IPO applications. According to SEBI circular SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, all intermediaries must retain physical application forms with UPI as a payment mechanism for six months before forwarding them to the issuer. Electronic forms, however, do not need to be physically retained. Intermediaries must keep electronic records of these forms for at least three years.

The IPO includes a bid lot of 2000 equity shares and multiples thereof. The minimum order quantity is also 2000 shares, with a maximum subscription amount for retail investors set at Rs. 2,00,000. Qualified Institutional Buyers (QIBs) can bid for up to 36,90,000 equity shares, while Non-Institutional Bidders (NIBs) can bid for up to 35,04,000 shares, calculated at the higher end of the price band.

The market timings for the IPO are from 10:00 a.m. to 5:00 p.m., and the cut-off time for UPI mandate confirmation is 5:00 PM on the last day of the IPO bidding. Khandwala Securities Limited is the book-running lead manager for the offering, with Axis Bank Limited serving as the sponsor bank. Bigshare Services Private Limited will handle the registrar duties.

Bikewo Green Tech, founded by Manideep K, Sathya Yalamanchili, and Saral Talwar, aims to revolutionize EV adoption in India with a vision of establishing 500+ dealerships and achieving sales of 100,000 units by 2025. Their mission is to empower entrepreneurs and businesses with a comprehensive network of EV dealerships, service centers, and charging points, enhancing both operational efficiency and customer experience in the EV market.

For more details, investors can refer to the Red Herring Prospectus, application forms, and further processing information available through the provided links.