Supertech EV IPO- Complete Overview

Supertech EV IPO- Complete Overview

Supertech EV IPO under the SME IPO category is a bookbuild issue of Rs. 29.90 Cr by Supertech EV Limited. It was established in 2022. It is one of the manufacturers of electric vehicles (EVs) in India. The company’s product range includes 12 models comprising 8 variants of electric two-wheelers and 4 variants of E-Rickshaws.

The company has established a distribution network consisting of 445 active distributors across nineteen states, with Delhi being the headquarters since its inception. Other states include Haryana, Punjab, Himachal Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, Jharkhand, Bihar, Maharashtra, Chhattisgarh, and later on Odisha as well as Telangana, along with Southern states such as Karnataka, Andhra Pradesh, and Assam.

Products:

• CARGO MAX – L5 E-Loader

• PASSENGER MAX

• ZAPSTER PRO.

The top franchises with respect to sales by region are GK Autovehicles Private Limited, Aziz Automobiles, along Najon Digital Hindustan Energysavers. Others include Kisan Automobiles, Bhupender Hari Enterprises, Supertech Auto Agency, Nangloi Krisha Electric Vehicle, e Ashwa Automotive Pvt Ltd, EVS Tritech India, Green Wheels Auto, and Electra E mobility.

Amongst these creditors, the most important are Akash Indchi Imports Exports Co, Fengxian England International Trading Co. Ltd, Supertech Auto Agency, Yuki Electric India Pvt Ltd., OM Steels, AST Pipes Pvt, B.H Enterprises, EVS Tritech, Laxmi Components, and Emercion Industries LLP.

 

Supertech EV IPO Overview

The Supertech EV IPO date is on 25 June 2025, and its initial public offering will end on 27 June 2025. 

The Rs. 29.90 crore new SME IPO comprises a wholly fresh issue of 32.50 lac Shares. The Supertech EV IPO price is Rs. 87 to Rs. 92 for each Share. 

The Supertech EV IPO listing date (expected) is Wednesday, Jul 02, 2025, and listing at the BSE and SME.

Click to open demat account and apply for the IPO.

Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	44.19	24.80	4.81
Total Revenue	75.19	65.14	2.38
PAT	6.19	5.02	0.06
Net Worth	16.90	9.70	1.07
Reserves & Surplus	7.79	5.19	0.07
Borrowings	12.27	5.52	-

 

 

Cash Flows

(Amount in thousands)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(52,160.03)	(25,615.96)	(5,733.34)
Net Cash Flow Investing Activities	(16,435.05)	(8,963.12)	(102.51)
Net Cash Flow Financing Activities	69,122.48	33,661.39	9,949.04

 

Revenue Bifurcation

No revenue bifurcation is mentioned in the RHP. 

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Financing the company's working capital needs.

• Repayment of a portion of the company's borrowed funds.

• Issue costs.

• General corporate purposes.

 

Click to check the IPO application status.

Peers of Supertech EV Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Delta Autocorp Limited	10	5.49	16.08

 

Evaluation

The Supertech EV Limited IPO price is Rs. 87 to Rs. 92 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2025 with an EPS of Rs. 6.82 from the last year, the resulting P/E ratio is 13.49x.

Considering the weighted EPS of Rs. 7.57 for the last three years, the P/E ratio is 12.15x.

Explore the Shri Hare-Krishna IPO.

IPO's Strengths

• Supertech EV has released twelve distinct electric vehicle models to cater to their customers’ varying mobility needs.

• The e-rickshaws are categorised into four variants, which include passenger, cargo, and waste management e-rickshaws.

• Supertech EV fulfils its customers’ needs through eight different e-scooter brands and models.

• A shown strength of distribution is shown by 445 distributors across 19 states in India.

• The hybrid model of manufacturing ensures better quality, flexibility, and cost control for the company.

 

 

IPO’s Weaknesses

• Limited operating time of 2.10 years may significantly change investor confidence or interest.

• Negative cash flows from past years may impact business growth expectations for the future.

• Delayed contracts can stretch timelines for raw material procurement, which risks production disruption or delay.

 

Supertech EV IPO GMP

Supertech EV IPO GMP is Rs. 5 as of 24 Jun 2025 while writing this information. Hence, its expected listing price is Rs. 97.

IPO Timetable (Tentative)

The Supertech IPO date of opening is from Jun 25 to Jun 27, 2025, allotment on Jun 30, refund initiation on Jul 01, and listing on Jul 02, 2025.

Events	Date
IPO Opening Date	Jun 25, 2025
IPO Closing Date	Jun 27, 2025
IPO Allotment Date	Jun 30, 2025
Refund Initiation	Jul 01, 2025
IPO Listing Date	Jul 02, 2025

 

Supertech EV IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 32,49,600 Shares (Rs. 29.90 Cr) with a market maker portion of 1,63,200 Shares (Rs. 1.50 Cr).

IPO Opening & Closing Date	25 Jun, 2025 to 27 Jun, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 87 to Rs. 92 per Share.
Lot Size	1200 Shares
Issue Size	32,49,600 Shares (Rs. 29.90 Cr)
Offer for Sale	-
Fresh Issue	32,49,600 Shares (Rs. 29.90 Cr)
Listing at	BSE, SME
Issue Type	Book Built Issue
Registrar	Skyline Financial Services Private Ltd.

 

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1200 Shares) amounting to Rs. 1,10,400 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2400 Shares) amounting to Rs. 2,20,800.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	5%
Retail’s Portion	47.36%
Non-Institutional Portion	47.36%

 

Promoters And Management of Supertech EV Ltd.

• Mr. Yetender Sharma

• Mr. Jitender Kumar Sharma

• Ms. Geetanjali Sharma.

Pre-Issue Promoter Shareholding	94.04%
Post-Issue Promoter Shareholding	69.31%

 

IPO Lead Managers

• Corporate Makers Capital Ltd.

 

 

Dividend Policy

The company has not declared a dividend in the last three financial years.

 

Conclusion

The Supertech EV IPO enables investors to participate in the expanding electric vehicle industry in India. The company’s extensive product portfolio, supported by a well-established distribution network across 19 states, suggests positive growth prospects. However, concerning is its short operational history with persistent negative cash flows.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.