Latest news with #Supertech
Time of India
02-07-2025
- Automotive
- Time of India
Supertech EV to debut today. Muted GMP signals cautious debut
Electric two-wheeler and e-rickshaw maker Supertech EV will debut on the BSE SME platform on July 2 after closing its Rs 29.90 crore IPO last week. Ahead of the listing, the stock is commanding a GMP of just Rs 0.5, indicating a subdued listing pop of 0.5% over the issue price of Rs 92. The IPO, which was entirely a fresh issue of 32.5 lakh shares, was open from June 25 to June 27 and priced in a tight band with a single cut-off price. The listing comes on the back of moderate investor interest, particularly in the retail and HNI segments, with no offer-for-sale component. Despite the lukewarm GMP, analysts say the long-term opportunity in the electric mobility space could play in Supertech EV's favour. Incorporated in 2022, the Delhi-based company has carved a niche in the EV manufacturing segment with 12 models in its portfolio — including eight electric scooters and four e-rickshaw variants. Its pan-India network of over 445 distributors across 19 states suggests a strong last-mile retail presence. Supertech reported a 15% jump in revenue and 23% rise in PAT in FY25 over the previous year. Its net profit for FY25 stood at Rs 6.19 crore, on revenue of Rs 75.19 crore. The company plans to use the IPO proceeds to fund working capital needs (Rs 16.5 crore), repay a portion of existing borrowings (Rs 3 crore), and for general corporate purposes. While the GMP doesn't suggest fireworks on debut, market watchers believe Supertech EV's differentiated presence in the EV space and wide distribution may attract long-term investors, especially if the stock dips in the early days of trade.
Mint
02-07-2025
- Automotive
- Mint
Supertech EV share price lists with 20% discount at ₹73.60 on BSE SME, slides further post-listing
Supertech EV IPO listing in focus today: Supertech EV IPO made a weak market debut today, July 02, as it debuted with a sharp 20% discount at ₹ 73.60 as against the IPO price of ₹ 92. Even after the weak market debut, the stock cracked another 5% to tumble to the day's low of ₹ 69.92 apiece. The SME IPO, valued at ₹ 29.90 crore, was open for subscription from June 25, 2025, to June 27, 2025, with an issue price of ₹ 92 per share. The issue is an entirely fresh issue of 32.50 lakh shares with no offer for sale component. The IPO received a subdued response, with the issue subscribed only 4.40 times. It attracted bids for 1.3 crore shares against the 30.85 lakh shares available. The retail investor segment was subscribed 7.06 times, while the non-institutional investor (NII) category saw a 2.09 times subscription. The Qualified Institutional Buyers (QIBs) portion witnessed the weak demand, being subscribed only 1.01 times. The company plans to utilize the net proceeds from its IPO primarily to support its working capital requirements, with an allocation of ₹ 16.50 crore. The remaining funds will be directed towards repayment of a portion of certain borrowings and general corporate purposes, helping the company strengthen its operations and overall business growth. Incorporated in 2022, Supertech EV is engaged in the manufacturing of electric vehicles (EVs) in India. The company's product portfolio includes 12 models, comprising 8 variants of electric two-wheelers and 4 variants of E-rickshaws. Supertech EV Limited has built a distribution network of 445 distributors and has a presence across 19 states in India, including Delhi, Haryana, Punjab, Himachal Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, Jharkhand, Bihar, Maharashtra, Chhattisgarh, Odisha, Telangana, Karnataka, Andhra Pradesh, and Assam.
Mint
02-07-2025
- Automotive
- Mint
Supertech EV share price lists with 20% discount at ₹73.60 on BSE SME, slides further post-listing
Supertech EV IPO listing in focus today: Supertech EV IPO made a weak market debut today, July 02, as it debuted with a sharp 20% discount at ₹ 73.60 as against the IPO price of ₹ 92. Even after the weak market debut, the stock cracked another 5% to tumble to the day's low of ₹ 69.92 apiece. The SME IPO, valued at ₹ 29.90 crore, was open for subscription from June 25, 2025, to June 27, 2025, with an issue price of ₹ 92 per share. The issue is an entirely fresh issue of 32.50 lakh shares with no offer for sale component. The IPO received a healthy response, with the issue subscribed only 4.40 times. It attracted bids for 1.3 crore shares against the 30.85 lakh shares available. The retail investor segment was subscribed 7.06 times, while the non-institutional investor (NII) category saw a 2.09 times subscription. The Qualified Institutional Buyers (QIBs) portion witnessed the strongest demand, being subscribed 1.01 times. The company plans to utilize the net proceeds from its IPO primarily to support its working capital requirements, with an allocation of ₹ 16.50 crore. The remaining funds will be directed towards repayment of a portion of certain borrowings and general corporate purposes, helping the company strengthen its operations and overall business growth. Incorporated in 2022, Supertech EV Limited is engaged in the manufacturing of electric vehicles (EVs) in India. The company's product portfolio includes 12 models, comprising 8 variants of electric two-wheelers and 4 variants of E-rickshaws. Supertech EV Limited has built a distribution network of 445 distributors and has a presence across 19 states in India, including Delhi, Haryana, Punjab, Himachal Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, Jharkhand, Bihar, Maharashtra, Chhattisgarh, Odisha, Telangana, Karnataka, Andhra Pradesh, and Assam. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
27-06-2025
- Politics
- Mint
Greater Noida news: Supertech Eco Village residents assaulted by guards after complaining about power cut
A group of security personnel and maintenance staff allegedly assaulted residents of Supertech Eco Village 1 in Greater Noida on Thursday night after the latter complained about a prolonged power cut in the residential society. Several videos, now going viral on social media, show the security personnel hitting some residents with batons and sticks. The videos also show the residents being punched, kicked, and thrashed with batons. According to a TOI report, the power supply had been interrupted for several hours in the housing society following which several residents approached the security office seeking answers and restoration. However, the onsite maintenance staff and security guards started assaulting the residents. Taking cognizance of the incident, DCP Central Noida said that an FIR has been registered at the Bisrakh police station and further necessary action is being taken. 'In the Bisrakh police station area, a dispute and scuffle between residents and the maintenance team at Eco Village 1 society over an electricity issue. Bisrakh police have registered an FIR and taken those involved in the assault into custody. Further necessary action is being taken," the DCP said in a message posted on X. According to Maharashtra Chief Minister Devendra Fadnavis, the state government is set to slash power tariffs by 26 per cent in five years, a PTI report said on Thursday. In a post on social media platform X (formerly Twitter), Fadnavis on June 25 said that the lowering of power tariffs will start with a 10 per cent cut in the first year. This is the first in the history of the state, he added. 'For the first time in the history of the state, electricity rates will be reduced by 10 per cent in the first year and 26 per cent in five years in phases,' Fadnavis declared on X. 'We are grateful to the Maharashtra State Electricity Regulatory Commission (MERC) for giving this verdict on the petition of Mahavitaran,' he added. – According to Fadnavis, in a first for the state, Mahavitaran filed a petition to reduce electricity tariffs which was accepted by the MERC. – The order will cover all three categories: commercial consumers, domestic consumers, and industrial consumers. – For 70 per cent of consumers using less than 100 units of electricity, a maximum rate reduction of 10 per cent will be achieved, the CM added. – Fadnavis also said that work on the Mukhyamantri Saur Krishi Vahini Yojana 2.0 is 'on a war footing' to ensure day-time and reliable electricity supply to farmers.
Mint
27-06-2025
- Politics
- Mint
Supertech Eco village residents complain about prolonged power cut, are assaulted by guards in Greater Noida
A group of security personnel and maintenance staff allegedly assaulted residents of Supertech Eco Village 1 in Greater Noida on Thursday night after the latter complained about a prolonged power cut in the residential society. Several videos, now going viral on social media, show the security personnel hitting some residents with batons and sticks. The videos also show the residents being punched, kicked, and thrashed with batons. According to a TOI report, the power supply had been interrupted for several hours in the housing society following which several residents approached the security office seeking answers and restoration. However, the onsite maintenance staff and security guards started assaulting the residents. Taking cognizance of the incident, DCP Central Noida said that an FIR has been registered at the Bisrakh police station and further necessary action is being taken. 'In the Bisrakh police station area, a dispute and scuffle between residents and the maintenance team at Eco Village 1 society over an electricity issue. Bisrakh police have registered an FIR and taken those involved in the assault into custody. Further necessary action is being taken," the DCP said in a message posted on X. According to Maharashtra Chief Minister Devendra Fadnavis, the state government is set to slash power tariffs by 26 per cent in five years, a PTI report said on Thursday. In a post on social media platform X (formerly Twitter), Fadnavis on June 25 said that the lowering of power tariffs will start with a 10 per cent cut in the first year. This is the first in the history of the state, he added. 'For the first time in the history of the state, electricity rates will be reduced by 10 per cent in the first year and 26 per cent in five years in phases,' Fadnavis declared on X. 'We are grateful to the Maharashtra State Electricity Regulatory Commission (MERC) for giving this verdict on the petition of Mahavitaran,' he added. – According to Fadnavis, in a first for the state, Mahavitaran filed a petition to reduce electricity tariffs which was accepted by the MERC. – The order will cover all three categories: commercial consumers, domestic consumers, and industrial consumers. – For 70 per cent of consumers using less than 100 units of electricity, a maximum rate reduction of 10 per cent will be achieved, the CM added. – Fadnavis also said that work on the Mukhyamantri Saur Krishi Vahini Yojana 2.0 is 'on a war footing' to ensure day-time and reliable electricity supply to farmers. – 'Along with this, due to the large emphasis on green energy in the power purchase agreements in the coming period, there will be savings in the cost of purchasing electricity,' he added.
