India’s electric vehicle revolution is gaining unprecedented momentum, and the upcoming Supertech EV IPO represents a compelling opportunity for investors to participate in this transformative journey. Scheduled to open for subscription from June 25 to June 27, 2025, this ₹29.90 crores public offering showcases a young yet rapidly growing electric vehicle manufacturer that has established a significant presence across 19 states in India within just three years of its incorporation. One can buy an allotment with a share price Rs. 87-92.
Founded in 2022, Supertech EV Limited has already carved out a noteworthy position in India’s burgeoning electric mobility sector, boasting an impressive portfolio of 12 electric vehicle models and a robust distribution network spanning 445 distributors nationwide. The company’s remarkable growth trajectory, evidenced by a 15% revenue increase and 23% profit surge in the latest financial year, reflects the broader electric vehicle adoption trend sweeping across India.
With the government’s aggressive push toward electric mobility through various incentives and policies, companies like Supertech EV are positioned to capitalize on this massive market opportunity that industry experts predict will reach unprecedented heights in the coming decade.
Table of Contents
Supertech EV IPO Structure and Investment Requirements
The Supertech EV IPO presents an attractively structured investment opportunity for both retail and institutional investors seeking exposure to India’s electric vehicle boom. The company is offering 32.50 lakh fresh equity shares with a face value of ₹10 each, priced within a band of ₹87 to ₹92 per share. This pricing strategy positions Supertech EV competitively within the SME IPO space while reflecting the premium valuation typically associated with high-growth electric vehicle companies.
The minimum lot size has been set at 1,200 shares, requiring retail investors to invest a minimum of ₹1,10,400 at the upper price band, making it accessible to a broad spectrum of individual investors. High net worth individuals need to commit a minimum of ₹2,20,800 for two lots, totaling 2,400 shares. The IPO allocation follows a balanced approach with 47.36% reserved for retail investors and an equal percentage for non-institutional investors, while qualified institutional buyers receive 5% allocation.
Corporate Makers Capital Ltd serves as the book-running lead manager, bringing their expertise in SME IPOs to ensure smooth execution of the public offering. Skyline Financial Services Private Ltd acts as the registrar, while Asnani Stock Broker Private Limited provides market-making services to ensure adequate liquidity post-listing on the BSE SME platform.
Business Operations and Market Position Analysis
Supertech EV Limited has established itself as a significant player in India’s electric two-wheeler and three-wheeler segment, offering a comprehensive product portfolio that caters to diverse customer needs. The company manufactures 12 distinct models, including eight variants of electric two-wheelers and four variants of E-Rickshaws, positioning itself strategically across the most rapidly growing segments of India’s electric vehicle market.
The company’s pan-India presence spans 19 states, including key markets such as Delhi, Maharashtra, Gujarat, Punjab, Uttar Pradesh, and Karnataka, representing some of India’s largest electric vehicle adoption centers. This extensive geographic coverage, supported by 445 distributors, provides Supertech EV with significant competitive advantages in terms of market reach, customer service, and brand visibility across diverse regional markets.
With a workforce of 115 employees as of June 2024, Supertech EV maintains an efficient operational structure that balances growth requirements with cost optimization. The company’s manufacturing and assembly operations are strategically located in Bahadurgarh, Haryana, providing proximity to key component suppliers and major markets in North India. This operational efficiency is reflected in the company’s ability to scale production while maintaining quality standards across its diverse product range.
Financial Performance and Growth Trajectory
Supertech EV’s financial performance presents a compelling growth story that aligns with India’s electric vehicle market expansion. The company achieved remarkable revenue growth of 15% in FY2025, with total revenue reaching ₹75.19 crores compared to ₹65.14 crores in the previous year. This consistent growth trajectory becomes even more impressive when viewed against the company’s meteoric rise from just ₹2.38 crores in FY2023, representing a stunning compound annual growth rate that few companies in any sector can match.
The profitability metrics reveal equally encouraging trends, with profit after tax increasing by 23% to ₹6.19 crores in FY2025 from ₹5.02 crores in FY2024. The company’s EBITDA margins have strengthened to 12.62%, while the PAT margin stands at a healthy 8.25%, indicating efficient operational management and pricing power in the competitive electric vehicle market. These margins are particularly noteworthy given the intense competition and pricing pressures typically associated with the electric vehicle manufacturing sector.
The company’s return on equity of 36.66% and return on capital employed of 30.86% demonstrate exceptional capital efficiency, significantly outperforming industry benchmarks and reflecting management’s ability to generate superior returns for shareholders. However, the debt-to-equity ratio of 0.73 indicates moderate leverage, which investors should monitor as the company scales operations and potentially requires additional capital for expansion initiatives.
IPO Fund Utilization and Strategic Objective
The proceeds from the Supertech EV IPO will be strategically deployed to fuel the company’s ambitious growth plans and strengthen its competitive position in India’s rapidly evolving electric vehicle landscape. The largest portion of the raised capital, ₹16.50 crores, will be allocated toward working capital requirements, enabling the company to manage its expanding operations, inventory needs, and customer financing requirements as it scales production and distribution.
The company plans to utilize ₹3.00 crores for repaying existing borrowings, which will improve its balance sheet strength and reduce interest burden, thereby enhancing profitability and financial flexibility for future growth initiatives. This debt reduction strategy demonstrates management’s commitment to maintaining a balanced capital structure while positioning the company for sustainable long-term growth.
The remaining funds will be allocated for general corporate purposes and issue expenses, providing management with the flexibility to pursue strategic opportunities, invest in research and development, and strengthen operational capabilities as market conditions evolve. This balanced approach to capital allocation reflects mature financial planning and positions Supertech EV to capitalize on emerging opportunities in the electric vehicle ecosystem.
Electric Vehicle Market Dynamics and Growth Prospects
Supertech EV operates within India’s electric vehicle market, which is experiencing unprecedented growth driven by government policies, environmental consciousness, and technological advancement. The Indian electric two-wheeler market, which forms the core of Supertech EV’s business, is projected to grow exponentially as consumers increasingly adopt electric alternatives for daily commuting and commercial purposes.
The company’s focus on both two-wheelers and E-Rickshaws positions it strategically within the most promising segments of the electric vehicle market. E-Rickshaws, in particular, represent a massive opportunity as they serve as primary transportation in both urban and rural areas, while electric two-wheelers are gaining rapid acceptance among urban consumers seeking cost-effective and environmentally friendly mobility solutions.
Government initiatives such as the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme, state-level subsidies, and infrastructure development for charging networks create a favorable ecosystem for companies like Supertech EV. The company’s established distribution network across 19 states positions it advantageously to capture market share as electric vehicle adoption accelerates across different regions and customer segments.
| IPO Key Details | Specifications |
|---|---|
| Issue Size | ₹29.90 Crores |
| Share Offer | 32,50,000 shares |
| Price Band | ₹87 – ₹92 per share |
| Minimum Lot Size | 1,200 shares |
| Minimum Investment (Retail) | ₹1,10,400 |
| Minimum Investment (HNI) | ₹2,20,800 |
| IPO Dates | June 25-27, 2025 |
| Listing Date | July 2, 2025 (Tentative) |
| Listing Exchange | BSE SME |
| Financial Performance (₹ Crores) | FY 2025 | FY 2024 | Growth |
|---|---|---|---|
| Revenue | 75.19 | 65.14 | +15% |
| EBITDA | 9.48 | 7.39 | +28% |
| Profit After Tax | 6.19 | 5.02 | +23% |
| Net Worth | 16.90 | 9.70 | +74% |
| ROE | 36.66% | – | – |
| ROCE | 30.86% | – | – |
| PAT Margin | 8.25% | 7.71% | +54 bps |
Read More: Oswal Pumps Share Price: Stock Lists at 3% Premium After Successful IPO on NSE and BSE
Frequently Asked Questions
Q1: What makes Supertech EV IPO attractive for investors interested in the electric vehicle sector?
Supertech EV IPO offers investors direct exposure to India’s rapidly growing electric vehicle market through a company that has demonstrated impressive financial performance and market expansion. The company’s 15% revenue growth and 23% profit increase in FY2025, combined with its presence across 19 states through 445 distributors, showcases strong operational execution.
With exceptional return ratios (36.66% ROE and 30.86% ROCE) and a diversified product portfolio covering both two-wheelers and E-Rickshaws, Supertech EV represents a compelling investment opportunity in the electric mobility revolution. However, investors should consider the competitive nature of the EV sector and the company’s relatively short operating history since its 2022 incorporation.
Q2: What are the key risks associated with investing in Supertech EV IPO?
The primary risks include the highly competitive and fragmented electric vehicle market, which could pressure margins and market share. Despite impressive recent growth, Supertech EV was incorporated only in 2022, raising questions about the sustainability of its rapid expansion and financial performance over longer time periods. The company’s debt-to-equity ratio of 0.73 indicates moderate leverage that could constrain financial flexibility during market downturns.
Additionally, the electric vehicle sector’s dependence on government policies, battery technology developments, and charging infrastructure creates regulatory and technological risks. The SME listing on BSE also typically involves lower liquidity compared to main board listings, which could impact trading flexibility for investors.
