02-07-2025
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.
