Supertech EV IPO

About Supertech EV IPO

The IPO of Supertech EV Ltd comprises a fresh issue of up to 32,49,600 equity shares. There’s no offer for sale in this IPO, which is a 100% book-built issue. The price range of the IPO is between ₹87 and ₹92. The lot size is 1200.

The IPO opening date is June 25, 2025. The IPO closing date is June 27, 2025. The IPO allotment date is June 30, 2025. The listing date is July 2, 2025. The initiation of refunds will take place on July 1, 2025. The credit of shares to the demat account will take place on July 1, 2025.

Objectives of Supertech EV IPO

• To meet working capital requirements
• To repay portion of certain borrowings availed by the company
• General corporate purposes

Industry Outlook

India's adoption of electric vehicles is hampered by a large gap and a lack of significant charging infrastructure. A critical facilitator of EV adoption is the availability of charging infrastructure. By 2030, the country is forecasted to have 102 million EVs with 2.9 million public charging stations needed to accommodate the growing EV adoption.

The Ministry said that 316 charging stations were added in FY20, while 1,742 were added in FY21. A total of 46,397 public charging stations (PCS) are being targeted by 2030. Also, there is a growing thrust on the adoption of electric vehicles (EVs) across the globe amid increasing carbon emissions which have serious repercussions including global warming. The Indian government is aligned with taking steps to decarbonise the economy with a push towards electrification of mobility.

As India is significantly dependent on crude oil imports and various cities in India are facing pollution menace, the Indian government has also acknowledged the need to promote EVs. The Government’s initiatives along with growing concerns for environment & energy security, rapid advancements in technologies for powertrain electrification, and innovative newer business models are driving the sales of EVs.

Company Information

Supertech EV Ltd is engaged in the business of manufacturing E-Rickshaw, vide agreement dated April 01, 2023. Supertech Inc was engaged in the manufacturing of E-Rickshaw and other related products including the chassis body for other market players. The company was incorporated to manufacture E-Rickshaw and to assemble 2-wheeler e-scooter including high speed and low speed products.

With this acquisition, it has consolidated all operations with respect to the manufacturing of E-rickshaw and assembling of two wheelers scooters.

Risks of Supertech EV IPO

• Dependence on Success of Electric Vehicle Models

The company’s success depends on its ability to successfully develop, introduce, manufacture, market and deliver new electric vehicle models of high quality on schedule and on a large scale, which may expose it to new and increased challenges and risks.

• Statutory and Regulatory Permits

The company’s business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect its business, prospects, results of operations and financial condition.

• Limited Operating History

Supertech EV Ltd has generated only very limited revenues to date. Its ability to generate revenues on a more reliable and larger scale, and to achieve more profitability, will depend on its ability to execute its business plan, complete the development of its technology, and incorporate it into products that customers wish to buy, and to do so rapidly with appropriate financing if necessary.

If it’s unable to generate revenues of significant scale to cover the costs of doing business then it may not be able to increase profitability, which could negatively impact the value of investment in its securities.

Anchor Investor Bidding Date

Anchor investor bidding will take place on June 24, 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Skyline Financial Services Pvt Ltd
• Book Running Lead Manager: Corporate Makers Capital Ltd

Business Model

Supertech EV Limited, core focus lies in capitalising on the burgeoning opportunities presented by the electrification of mobility, aligning its efforts with India's vision for a cleaner, greener future. With a diverse portfolio of electric vehicles, including E-Rickshaws and E-Scooters, it caters to the evolving needs of the Indian automobile market. The company has rapidly evolved to become a significant player in the market, specialising in the design, development, manufacturing, and distribution of high-quality electric two-wheelers and E-rickshaws.

Committed to addressing the urgent need for electric mobility solutions in India, Supertech EV Ltd focuses on delivering user friendly, technologically advanced and affordable electric scooters. The company's mission extends beyond product excellence, aiming to contribute to a cleaner and more sustainable future for the nation and also develop further electric based mobility solutions.

Company Growth Trajectory

The revenue from operations of Supertech EV Ltd grew from ₹2.37502 crores in FY 23 to ₹75.096668 crores in FY 25. Its EBITDA margin grew from 3.87% in FY 23 to 12.62% in FY 25, while PAT margin grew from 2.68% in FY 23 to 8.25% in FY 25. Range of product offering coupled with a strong client base has helped in the company’s growth.

Market Position

Since its inception, Supertech EV Ltd has been at the forefront of driving the electrification of mobility in India, leveraging its manufacturing facilities located in Haryana with an introduction of 12 models including 8 variants of EV 2 wheelers and 4 variants of E-Rickshaw, with a distributor base of 445 across India and presence in 19 states.

How to Apply for the Supertech EV IPO?

1. Visit the Registrar’s Website

• Visit the official website of Skyline Financial Services Pvt Ltd
• Click on ‘Public Issue’ from ‘Investors’ dropdown
• Choose ‘Company Name’
• Enter DPID/Client ID or Application Number or PAN Number
• Click on ‘Search’ to know the status

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Choose the Issue Type
• Select the Issue Name from dropdown
• Put in either your application number or PAN number
• Check the box ‘I’m not a robot’
• Click on ‘Search’ to know allotment status

How to Apply for the Supertech EV IPO?

• Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.