Supertech EV Limited IPO

The initial public offering (IPO) of Supertech EV Limited will be launched on June 25, 2025 and will be closed on June 27, 2025. The company is issuing new shares of 29.90 crore by an ordinary book-building process. The face value of each equity share is 10 and the share price band is 87 to 92. The shares will be listed on the BSE SME platform. The lot size is 1,200 shares and the minimum cost is 1,10,400 at the upper price band. Retail investors can buy up to 47.51 percent of the shares, 47.47 percent is reserved to non-institutional investors and 5 percent to qualified institutional buyers.

Company Background

Supertech EV Limited was started in 2022. It is an Indian electric vehicle company that manufactures and markets electric two-wheelers, L5 electric loaders and rickshaws. The firm has taken advantage of government subsidies and high demand of electric mobility solutions to become a leader in the Indian EV market.

Operations & Product Range

Facility & Production:
Supertech EV has two plants in Bahadurgarh, Haryana. They occupy about 75,325 sq. ft. Both plants are ISO 9001:2015 certified up to January 2027. It is a hybrid production company: it assembles electric scooters with completely knocked down (CKD) kits, primarily imported from China and produces e-rickshaw parts internally. The installed capacity is approximately 10,500 units per annum, with the utilization rate at 33 percent, which means that there is an opportunity to expand without massive capital outlay.

Brands & Market Presence:
The company has 12 electric vehicle variants. There are eight electric two-wheelers and four e-rickshaws. Notable products include Cargo Max L5 loader, Passenger Max e-rickshaw and Zapster Pro electric scooter. These are vehicles that are used to transport passengers and goods both in the city and in the countryside. Supertech EV has established a broad network of 445 distributors across 19 states in India such as Delhi, Haryana, Punjab, Rajasthan, Uttar Pradesh, Gujarat and Madhya Pradesh.

Revenue Channels

Supertech EV is a B2B and B2C business model that makes money by selling its electric two-wheelers and e-rickshaws to retail dealers and institutions. Supertech EV recorded revenue of 75.19 crore in FY25, which is an increase of 15-17 percent over 65.14 crore in FY24. Profit after tax (PAT) increased by 23 percent to 6.19 crore. EBITDA margins reached 12.62 percent and PAT margins were 8.25 percent. The sales channel was concentrated but resilient as the top 10 distributors had 41.43 percent of revenue.

Management & Shareholding

Promoters & Shareholding:
The promoters hold a significant stake, with pre-IPO promoter holding at approximately 94.99%, expected to reduce to about 70.02% post-IPO. The promoters, Mr. Jitender Sharma and Mr. Yetender Sharma, bring over two decades of experience in EV and manufacturing sectors, providing strong strategic and operational leadership.