Vijay Singh
Faridabad (Haryana) [India], June 21: Supertech EV Limited– One of the pioneering forces in the Indian electric vehicle (EV) market with a focus on Electric two wheelers (E2W) and Electric three wheelers (E3W) is planning to raise up to Rs. 29.90 crore from its SME public issue. The company has received approval to launch its public issue on the BSE SME Platform. The public issue will open for subscription on June 25, 2025 and will close on June 27, 2025. Corporate Makers Capital Ltd is the book-running lead manager of the issue.
The initial public offering of Rs. 29.90 crore is entirely a fresh issue of 32,49,600 equity shares for a face value of Rs. 10 each. Price band for the issue is Rs. 87 – Rs. 92 per share. Out o the issue proceeds, company plans to use Rs. 16.50 crore towards funding of working capital requirements, Rs. 3 crore for repayment of portion of certain borrowings and remaining for general corporate purposes and issue related expenses. Minimum lot size for the application is 1,200 shares, which translates into a minimum investment of Rs. 1,10,400 at an upper price band of Rs. 92 per share. The retail quota for the issue is 47.51%, NII is 47.47%, QIB is 5.02%, and Market Maker is 5.02%.
Highlights:
- IPO opens for subscription on June 25, 2025 and closes on June 27, 2027; Minimum lot size for application is 1,200 shares; Minimum investment required at a higher price band of Rs. 92 per share is Rs. 1,10,400
- Funds raised through the issue will be used to meet working capital requirements, Repayment of a portion of certain borrowings of the company and general corporate purposes
- Company’s product portfolio includes 12 models, comprising 8 variants of electric two-wheelers and 4 variants of E-Rickshaws.
- For FY24-25 company reported revenue of Rs. 75.19 crore and net profit of Rs. 6.19 crore
- Healthy Returns Ratio as on 31 March 2025 – ROE/ RONW at 36.66%, ROCE at 47.95%
- Corporate Makers Capital Ltd is the book-running lead manager of the issue
Incorporated in 2022, Supertech EV Ltd is one of the pioneers in the Indian electric vehicle (EV) market. The company offers a wide range of electric two-wheelers, three-wheelers, garbage disposal vans and loaders catering to the diverse needs of the Indian consumer. The company’s product portfolio includes 12 models, comprising 8 variants of electric two-wheelers and 4 variants of E-Rickshaws. The company has built a distribution network of 445 distributors and has a presence across 19 states in India, including Delhi, Haryana, Punjab, Himachal Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, among others. Company has recently launched products including – Cargo Max, Passenger Max and Zapster Pro in the market in FY 25-26.
India is experiencing a remarkable surge in the sales of electric vehicles, signalling a transformative shift towards sustainable mobility, led by rising subsidies and new launches. In FY 2024, the share of electric two-wheelers was 5 per cent, which is likely to see a significant increase in the years to come. The company plans to capitalise on the burgeoning opportunities in the electrification of mobility, aligning our efforts with India’s vision for a greener future.
For FY24-25 ended on 31 March 2025, the company’s total revenue increased by 17.23% to Rs. 75.19 crore against Rs. 65.14 crore in FY 2024. The company’s net profit rose 23.3% to Rs. 6.19 crore in FY 2025, compared to Rs. 5.02 crore in FY 2024, with a healthy EBITDA of Rs. 9.48 crore in FY 2025. The net worth and Asset base of the company as of March 2025 stand at Rs. 16.89 crore and Rs. 44.18 crore. The company has maintained a healthy return ratio, which as of 31 March 2025, stands as follows: Return on Equity and Return on Net Worth stand at 36.66% and Return on Capital Employed at 47.95%.
IPO Highlights – Supertech EV Ltd
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IPO Opens on: June 25, 2025
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IPO Closes on: June 27, 2025
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Issue Price Band: Rs. 87 – 92 per share
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Issue Size: 32.49 lakh shares – up to Rs. 29.90 crore
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Lot Size: 1,200 shares
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Listing on: BSE SME Platform
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