The initial public offer (IPO) of Supertech EV received bids for 34,51,200 shares as against 32,49,600 shares on offer, as per BSE data as of 17:00 hours on Wednesday (25 June 2025). The issue was subscribed 1.06 times.
The issue opened for bidding on Wednesday (25 June 2025) and it will close on Friday (27 June 2025). The price band of the IPO is fixed between Rs 87 to Rs 92 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprises fresh issue of 32,49,600 equity shares. The promoter and promoter group shareholding will dilute to 69.31% from 94.04% pre-issue.
About 1,63,200 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 30,86,400 equity shares. The issue and the net issue will constitute 26.29% and 24.97% respectively of the post Issue paid up equity share capital of the company.
The company intends to utilize the net proceeds for working capital requirement, repayment of portion of certain borrowings availed by the company and general corporate purposes.
Supertech EV is a pure EV player in India, building vertically integrated technology and manufacturing capabilities for electric vehicles. It manufactures EVs, including 2-wheelers and e-rickshaws, at its factory. The company has launched 8 variants of 2-wheelers and 4 variants of e-rickshaws. It operates through a widespread distributorship network of 445 outlets across India. The company aims to make electric vehicles accessible to all segments of society. As of 31 May 2025, the company had 148 employees on payroll basis excluding contractual and KMP/ Directors.
The company recorded revenue from operations of Rs 7.50 lakh and net profit of Rs 0.62 lakh for the period ended 31 March 2025.