BikeWo GreenTech Limited

About BikeWo GreenTech Limited

BikeWo GreenTech, established in 2016, initially specialized in the trading of pre-owned four-wheelers. The company's operations involved sourcing used cars from authorized new car dealers and reselling them through a network of designated park-and-sell outlets. This model positioned BikeWo GreenTech as a key intermediary, facilitating the movement of used vehicles while earning margins on sales. With a comprehensive approach that spanned vehicle search, certification, financing, and delivery, the company built a solid foundation in the automotive market through its well-established network.

In 2022, recognizing the burgeoning potential of the electric vehicle (EV) sector in India, BikeWo GreenTech diversified its business model to include the sale of electric two-wheelers. This strategic pivot aimed to capitalize on the country's shift toward electrified mobility. The company launched a franchise model to expand its reach, opening ten new dealerships in Andhra Pradesh and Telangana. By creating a multi-brand channel for EVs and establishing a presence in key markets such as Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat, BikeWo GreenTech positioned itself at the forefront of India's EV revolution.

The company's expansion strategy focuses on deepening its footprint in existing regions while methodically entering new markets. By leveraging local dealers who possess intimate knowledge of their regions, BikeWo GreenTech enhances its market penetration and brand recognition. This approach not only aligns with the company's cluster-focused expansion strategy but also ensures that dealers are well-integrated into their communities, fostering a strong connection between the brand and its customers. Future plans include expanding into Rajasthan, Kerala, Karnataka, and West Bengal, reflecting a deliberate and calculated growth trajectory.

BikeWo GreenTech’s commitment to quality and customer satisfaction is evident in its operational framework. Each state is managed by an area manager who ensures adherence to company standards in marketing, sales, and service. Dealers are required to meet stringent aftercare service criteria, including staffing a service technician and maintaining spare parts inventory, to ensure high standards of post-sale support. The company also operates a centralized workshop in Hyderabad for major repairs and provides ongoing training for dealers and their staff. These measures underscore BikeWo GreenTech's dedication to delivering exceptional service and maintaining robust dealer relationships, solidifying its position as a leading player in the electric two-wheeler market.

BikeWo GreenTech  prepares for its Initial Public Offering (IPO), the proceeds from the Fresh Issue will be allocated towards critical objectives:

1. Funding purchase of electric two wheeler vehicles for selling and supplying the same to our new and existing dealers.
2. Funding capital expenditure proposed to be incurred towards setting up of eleven dealership stores in various states in India.
3. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
4. General Corporate Purposes.