IPO Details
RHP/DRHPIssue Date
25 Jun - 27 Jun'25
Investment/lot
₹ 110400
Price Range
87 - 92
Lot Size
1200
IPO Size
₹ 28.27 - ₹ 29.9 Cr
Schedule of Supertech EV IPO
Start date
25/06/2025
End date
27/06/2025
Allotment of bids
30/06/2025
Refund Initiation
01/07/2025
Listing on exchange
02/07/2025
About Supertech EV IPO
The IPO of Supertech EV Ltd comprises a fresh issue of up to 32,49,600 equity shares. There’s no offer for sale in this IPO, which is a 100% book-built issue. The price range of the IPO is between ₹87 and ₹92. The lot size is 1200.
The IPO opening date is June 25, 2025. The IPO closing date is June 27, 2025. The IPO allotment date is June 30, 2025. The listing date is July 2, 2025. The initiation of refunds will take place on July 1, 2025. The credit of shares to the demat account will take place on July 1, 2025.
Objectives of Supertech EV IPO
- To meet working capital requirements
- To repay portion of certain borrowings availed by the company
- General corporate purposes
Supertech EV IPO Valuation
Supertech EV IPO Share Offer and Subscription Details
| Investor | Shares Offered |
|---|---|
Market maker | 5.02% of the issue size |
QIBs | Not more than 5.02% of the net issue |
Non-institutional Applicants | Not less than 47.47% of the net issue |
Retail Individual Investors | Not less than 47.51% of the net issue |
Industry Outlook
India's adoption of electric vehicles is hampered by a large gap and a lack of significant charging infrastructure. A critical facilitator of EV adoption is the availability of charging infrastructure. By 2030, the country is forecasted to have 102 million EVs with 2.9 million public charging stations needed to accommodate the growing EV adoption.
The Ministry said that 316 charging stations were added in FY20, while 1,742 were added in FY21. A total of 46,397 public charging stations (PCS) are being targeted by 2030. Also, there is a growing thrust on the adoption of electric vehicles (EVs) across the globe amid increasing carbon emissions which have serious repercussions including global warming. The Indian government is aligned with taking steps to decarbonise the economy with a push towards electrification of mobility.
As India is significantly dependent on crude oil imports and various cities in India are facing pollution menace, the Indian government has also acknowledged the need to promote EVs. The Government’s initiatives along with growing concerns for environment & energy security, rapid advancements in technologies for powertrain electrification, and innovative newer business models are driving the sales of EVs.
Company Information
Supertech EV Ltd is engaged in the business of manufacturing E-Rickshaw, vide agreement dated April 01, 2023. Supertech Inc was engaged in the manufacturing of E-Rickshaw and other related products including the chassis body for other market players. The company was incorporated to manufacture E-Rickshaw and to assemble 2-wheeler e-scooter including high speed and low speed products.
With this acquisition, it has consolidated all operations with respect to the manufacturing of E-rickshaw and assembling of two wheelers scooters.
Supertech EV IPO Strengths
Range of Product Offering
At Supertech EV Limited, its commitment to innovation and excellence is reflected in its diverse range of electric vehicles, meticulously designed to meet the evolving needs of consumers across India. As of May 31, 2025, its product portfolio boasts an impressive array of 12 distinct offerings, comprising four variants of E-rickshaws and eight variants of E-scooters.
Strong Client Base
As of May 31, 2025, the company’s extensive distribution network comprised 445 distributors strategically positioned throughout the country. These distributors serve as vital conduits, facilitating the seamless dissemination of electric vehicles to diverse markets and regions. Through their dedicated efforts, it has been able to reach a wide audience, establishing a strong presence in the Indian automobile landscape.
Business Model
First and foremost, the company prides itself on its adaptable manufacturing capabilities. Within the walls of its manufacturing facility, it harnesses cutting-edge technology and expertise to produce the majority of parts and components for its E-rickshaw.
This integrated approach allows it to maintain stringent quality control measures while ensuring timely production to meet market demands. However, recognising the importance of specialisation and efficiency, it also strategically leverages partnerships with trusted third-party vendors to outsource select components and attachments.
This hybrid manufacturing model for electric two wheelers enables it to optimise resources, enhance agility, and uphold its commitment to delivering top-tier products to its customers.
Quality Assurance
The company believes that quality is a prerequisite for a positive consumer experience and long-term brand loyalty. This philosophy has formed the foundation of the expansion and diversification of its portfolio since its inception.
It has been in the business of manufacturing, assembling and supplying EVs comprising different variants of E-rickshaws and E-scooters and have successfully ventured and supplied quality products to its customers.
Commitment to Environment Sustainability
Supertech EV Ltd distinguishes itself by embodying a steadfast commitment to sustainability. Aligned with the global focus on eco-friendly transportation, the company's electric two-wheelers and e-rickshaws contribute to a cleaner and greener future.
This commitment resonates with environmentally conscious consumers, positioning Supertech EV Ltd, as one of the players in sustainable mobility.
Risks of Supertech EV IPO
- Dependence on Success of Electric Vehicle Models
The company’s success depends on its ability to successfully develop, introduce, manufacture, market and deliver new electric vehicle models of high quality on schedule and on a large scale, which may expose it to new and increased challenges and risks.
- Statutory and Regulatory Permits
The company’s business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
- Limited Operating History
Supertech EV Ltd has generated only very limited revenues to date. Its ability to generate revenues on a more reliable and larger scale, and to achieve more profitability, will depend on its ability to execute its business plan, complete the development of its technology, and incorporate it into products that customers wish to buy, and to do so rapidly with appropriate financing if necessary.
If it’s unable to generate revenues of significant scale to cover the costs of doing business then it may not be able to increase profitability, which could negatively impact the value of investment in its securities.
All Financial Information about Supertech EV IPO
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company Name | Revenue from Operations (in ₹ crores) | EPS in ₹ | Return on Net Worth (in %) | NAV Per Share (in ₹) |
|---|---|---|---|---|
Supertech EV Ltd | 75.096668 | 6.82 | 36.66 | 18.55 |
Delta Autocorp Ltd | 0.831815 | 5.49 | 11.50 | 47.78 |
Anchor Investor Bidding Date
Anchor investor bidding will take place on June 24, 2025.
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Skyline Financial Services Pvt Ltd
- Book Running Lead Manager: Corporate Makers Capital Ltd
Business Model
Supertech EV Limited, core focus lies in capitalising on the burgeoning opportunities presented by the electrification of mobility, aligning its efforts with India's vision for a cleaner, greener future. With a diverse portfolio of electric vehicles, including E-Rickshaws and E-Scooters, it caters to the evolving needs of the Indian automobile market. The company has rapidly evolved to become a significant player in the market, specialising in the design, development, manufacturing, and distribution of high-quality electric two-wheelers and E-rickshaws.
Committed to addressing the urgent need for electric mobility solutions in India, Supertech EV Ltd focuses on delivering user friendly, technologically advanced and affordable electric scooters. The company's mission extends beyond product excellence, aiming to contribute to a cleaner and more sustainable future for the nation and also develop further electric based mobility solutions.
Company Growth Trajectory
The revenue from operations of Supertech EV Ltd grew from ₹2.37502 crores in FY 23 to ₹75.096668 crores in FY 25. Its EBITDA margin grew from 3.87% in FY 23 to 12.62% in FY 25, while PAT margin grew from 2.68% in FY 23 to 8.25% in FY 25. Range of product offering coupled with a strong client base has helped in the company’s growth.
Market Position
Since its inception, Supertech EV Ltd has been at the forefront of driving the electrification of mobility in India, leveraging its manufacturing facilities located in Haryana with an introduction of 12 models including 8 variants of EV 2 wheelers and 4 variants of E-Rickshaw, with a distributor base of 445 across India and presence in 19 states.
Supertech EV IPO Profit and Loss
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Total Income (in ₹crores) | 75.191107 | 65.140808 | 2.37502 |
Profit Before Tax (in ₹crores) | 8.344308 | 6.686136 | 0.091478 |
Profit After Tax (in ₹crores) | 6.193577 | 5.02281 | 0.063573 |
EBITDA (in ₹crores) | 9.48039 | 7.392771 | 0.091881 |
EPS in ₹ | 6.82 | 12.33 | 0.32 |
Supertech EV IPO Balance Sheet
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Profit Before Tax (in ₹crores) | 8.344308 | 6.686136 | 0.091478 |
Net Cash Flow from/ (used in) Operating Activities (in ₹crores) | (5.216003) | (2.561596) | (0.573334) |
Net Cash Flow from/ (used in) Investing Activities (in ₹crores) | (1.643505) | (0.896312) | (0.010251) |
Net Cash Flow from/ (used in) Financing Activities (in ₹crores) | 6.912248 | 3.366139 | 0.994904 |
Cash & Cash Equivalents as at End of the Year (in ₹crores) | 0.37229 | 0.31955 | 0.411319 |
How to Apply for the Supertech EV IPO?
1. Visit the Registrar’s Website
- Visit the official website of Skyline Financial Services Pvt Ltd
- Click on ‘Public Issue’ from ‘Investors’ dropdown
- Choose ‘Company Name’
- Enter DPID/Client ID or Application Number or PAN Number
- Click on ‘Search’ to know the status
2. Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Choose the Issue Type
- Select the Issue Name from dropdown
- Put in either your application number or PAN number
- Check the box ‘I’m not a robot’
- Click on ‘Search’ to know allotment status
How to Apply for the Supertech EV IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Supertech EV IPO FAQs
What is the minimum lot size required for Supertech EV IPO?
The minimum lot size is 1200 shares and the investment required is ₹110400.
What is the price band of the Supertech EV IPO?
The price band of Supertech EV IPO is ₹87 to ₹92.
Where can I read more about Supertech EV business?
You can read more about Supertech EV and its IPO from the company’s red herring prospectus (RHP) here.
What is the Supertech EV Ltd IPO?
The Supertech EV Ltd IPO comprises a fresh issue of up to 32,49,600 equity shares. It has no offer for sale.
When will the IPO of Supertech EV Ltd go live?
The IPO will open on June 25, 2025 and will close on June 27, 2025.
From where can I get more information about the IPO of Supertech EV Ltd?
To get more information about the IPO of Supertech EV Ltd, click on the company’s red herring prospectus here.
