BikeWo GreenTech SME IPO Details 2024

About Company - BikeWo GreenTech

Bikewo Green Tech Limited was founded in December 2016, this company is a two-wheeler e-retailer in India. Since its inception, the company has been engaged in buying and selling used two-wheelers from authorized dealers of reputed car brands (“New car Dealers”). As part of its used car business, the company sources used cars from new car dealers who are approached by potential customers looking to sell their existing vehicles or trade-in for a new vehicle. After procuring used cars through these channels, it displays them for sale at various locations/parking lots and the outlets of its designated used car dealers.

Business activities are conducted through dealer models. They offer three types of dealership agreements to their dealers:

1. State Dealership
2. Diamond Dealership
3. Platinum Dealership

The electric vehicle business focuses on capitalizing on the opportunities arising from the electrification of mobility in India by creating a multi-brand channel for EV two-wheelers by offering private label franchising in Tier–I, Tier II and Tier III cities. The company's business model focuses on building a chain of dealerships in Tier-II and Tier-III cities to set up retail spaces that ensure high visibility and easy customer accessibility.

The company is focusing on deepening its presence in the regions where it operates before venturing into new markets. This has resulted in the brand being present in the markets of Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra and Gujarat. In addition to their cluster-based expansion strategy, their dealer model helps us build a chain of dealers who are based in the region they operate in and are therefore able to penetrate the markets through their market understanding and familiarity with the territory and target customers.

BikeWo GreenTech SME IPO Strengths

• Leading EV dealership for major OEMs with a strong focus on high growth segments.
• Our existing Network and Storage Capabilities.
• Dealership network and presence across various states.
• Growing presence in after-sales segment leading predictable growth in revenues and superior margins.
• Diverse market presence.
• Robust business processes leveraging digitalization.
• Experienced Promoter and professional management team with technical expertise.