Supertech EV Plans to Raise Up to Rs. 29.90 Crore from Public Issue

⚡ Supertech EV Targets ₹29.90 Crore Through SME Public Issue

Supertech EV Plans to Raise Up to Rs. 29.90 Crore from Public Issue

Supertech EV Limited, a leading Indian electric two-wheeler and e‑rickshaw manufacturer, has launched an SME initial public offering (IPO) aiming to raise ₹29.90 crore entirely via a fresh issue. This bank building initiative was approved for listing on the BSE SME platform  .

🗓️ Issue Timeline & Price Band

• Subscription window: June 25–27, 2025

• Price band: ₹87–₹92 per share for a face value of ₹10  

• Minimum investment: 1,200 shares (₹1,10,400 @ upper band)  

• Expected listing: July 2, 2025, based on T+3 settlement norms  

📊 Share Allocation

The issue is structured to accommodate:

• Reserved 47.5% for retail investors

• 47.5% for non‑institutional investors (NIIs)

• 5% each for Qualified Institutional Buyers (QIBs) and market makers   

🧾 Use of Funds

According to official disclosures, the IPO proceeds are earmarked for:

• ₹16.5 crore to boost working capital

• ₹3 crore to repay existing borrowings

• Remaining funds for corporate expenses and issuance costs   

🚙 Business Profile & Growth

Founded in 2022, Supertech EV has quickly scaled its operations, boasting:

• A product range of 12 EV models: 8 electric two-wheelers and 4 variants of e‑rickshaws  

• A robust sales network: 445 distributors covering 19 Indian states  

📈 Financial Highlights

For fiscal year ending March 2025, the company reported:

• Revenue: ₹75.19 crore (up ~15% from FY24)

• Profit after tax (PAT): ₹6.19 crore (up ~23%)

• EBITDA margin: ~12.6%

• PAT margin: ~8.3%  

📌 Market Reception

By midday on opening day (June 25), the IPO was subscribed at approximately 0.51–0.67×, with retail demand nearing full subscription (~0.99×) and NIIs lagging (~0.4×)  . The grey market premium (GMP) was around ₹15, hinting at a possible 16% listing premium  .

✅ Why This Matters

Supertech EV’s public issue arrives at a time of surging interest in electric mobility across India. By tapping capital markets with a focused SME IPO, the company aims to:

1. Strengthen its financial base for scaling operations

2. Bolster confidence through debt reduction

3. Enhance its operational agility with working capital infusion

For environmentally conscious and next-gen transportation markets, this IPO could signal a significant step forward for a young company riding the wave of green mobility and expanding its footprint across the subcontinent.