The Indian electric vehicle (EV) market is witnessing a significant development as Supertech EV Limited prepares for its initial public offering (IPO). The company aims to raise up to ₹29.90 crore through this public issue, which opens for subscription on June 25, 2025, and will close on June 27, 2025. Supertech EV, known for its electric two-wheelers (E2Ws) and three-wheelers (E3Ws), has received approval to launch its IPO on the BSE SME Platform.
This IPO consists of a fresh issue of 32,49,600 equity shares, each with a face value of ₹10. The price band for the shares is set between ₹87 and ₹92. Out of the total proceeds, ₹16.50 crore will be allocated for working capital needs, ₹3 crore will go towards repaying part of certain borrowings, and the remainder will cover general corporate expenses and issue-related costs.
Investors should note that the minimum application lot size is 1,200 shares, translating to a minimum investment of ₹1,10,400 at the upper price band of ₹92. The issue has a retail quota of 47.51%, while non-institutional investors (NII) and qualified institutional buyers (QIB) have quotas of 47.47% and 5.02%, respectively.
Since its incorporation in 2022, Supertech EV has emerged as a pioneer in the Indian EV sector. The company provides various electric vehicles, including two-wheelers, E-rickshaws, garbage disposal vans, and loaders, catering to the diverse needs of Indian consumers. Their product range includes 12 models, comprising eight variants of electric two-wheelers and four variants of E-rickshaws.
Supertech EV has established a distribution network of 445 distributors across 19 states, including major markets like Delhi, Haryana, Uttar Pradesh, and Gujarat. Recently, the company launched several new products, such as Cargo Max, Passenger Max, and Zapster Pro, indicating its commitment to innovation in the electric vehicle space.
The rise of electric vehicle sales in India is notable. In FY 2024, electric two-wheelers accounted for 5% of total vehicle sales, and this figure is expected to rise significantly in the coming years. Supertech EV plans to leverage these opportunities, aligning its goals with India’s vision for a greener future.
In its recent financial report for FY 2024-25, Supertech EV reported a 17.23% increase in total revenue, reaching ₹75.19 crore compared to ₹65.14 crore the previous year. The net profit also saw impressive growth, rising 23.3% to ₹6.19 crore from ₹5.02 crore in FY 2024. The company has a strong EBITDA of ₹9.48 crore for FY 2025 and a net worth of ₹16.89 crore as of March 2025.
Supertech EV maintains a healthy return ratio, with a return on equity of 36.66% and a return on capital employed of 47.95% as of March 31, 2025. This solid financial performance positions the company well for future growth in the competitive EV market.
As the world shifts towards sustainable mobility, Supertech EV is poised to play a significant role in India’s electric vehicle revolution. The upcoming IPO is a crucial step towards expanding its production capabilities and meeting the growing demand for electric vehicles across the country. Investors looking for opportunities in the green mobility sector should keep an eye on Supertech EV’s IPO, as it promises to be an exciting development in the Indian EV landscape.
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