Electric Two-wheeler and e-rickshaw manufacturer Supertech EV Limited (SuperTek Ev Ltd.) listed on 2 July 2025 to the much-awaited IPO stock market, but the company’s shares started weakly against expectations. This IPO was listed on BSE SME platform and listed at ₹ 73.60 per share against the issue price of ₹ 92 – ie with a decline of about 20%.
Decline on Listing Day, Share slipped by ₹ 69.92
Soon after the listing, the stock showed further weakness and it slipped with an additional fall of 5% to ₹ 69.92 of the day. According to market analysts, this decline of the day of listing can result in the market’s current uncertainty and questions arising on the company’s valuation.
IPO got good response
Although there was a weak start in the stock market, the IPO of Supertech EVs received good response from investors.
Total subscription: 4.40 times
Retail Investors: 7.06 times
NII category: 2.09 times
QIB (Qualified Institutional Buyers): 1.01 times
In total, bids were received for 1.3 million shares against 30.85 million shares. This indicates that the company had confidence in the primary market, but in the secondary market, this trust was seen in the early trade.
Use of funds raised from IPO
The company had already clarified that it would use the amount received from the IPO for the following objectives:
Working capital requirements – direct allocation of ₹ 16.50 crore.
Report of some debt.
General corporate purposes – including operational expansion, investment in new techniques, and strengthening the existing network.
The company believes that these investment will accelerate its future development and increase competitiveness.
Current attendance of the company
Supertech EV has created a strong distribution network for its products. This company is working through more than 445 dealers/distributors in 19 states of India. The states where it has its presence includes:
North India: Delhi, Haryana, Punjab, Himachal Pradesh, Uttarakhand, Uttar Pradesh, Rajasthan
West India: Gujarat, Maharashtra, Madhya Pradesh
Eastern India: Jharkhand, Bihar, Odisha, Chhattisgarh
South India: Karnataka, Telangana, Andhra Pradesh
Northeast: Assam
This comprehensive access is helping the company strengthen its grip across the country.
Will the performance improve further?
Stock market experts believe that the subscription in the IPO was good, so investors in the long term should monitor the company’s performance. Listing Day decline may be short -lived, especially if the company uses its funds effectively and makes the balance sheet strong.
