Supertech EV IPO Day 3: GMP, subscription status, price band, other details of BSE SME IPO

Supertech EV IPO: The initial public offering (IPO) of electric vehicles (EVs) manufacturer Supertech EV Limited opened for subscription on Wednesday, June 25. The SME IPO is entirely a fresh issue to raise nearly ₹ ₹30 crore. Supertech EV IPO witnessed decent subscription from retail and non-institutional buyers.

Supertech EV IPO subscription status

By 10:40 AM of the first day of subscription, the issue had been subscribed 1.7 times, with the retail portion booked 2.7 times and the segment reserved for non-institutional investors (NIIs) subscribed 0.73 times. The segment reserved for qualified institutional buyers had been subscribed to 1 time.

Supertech EV IPO details

1. Supertech EV IPO GMP: According to market sources, the latest grey market premium (GMP) of Supertech EV shares was nil. The latest GMP indicates the stock could be listed at par with the issue price.

2. Supertech EV IPO date: The SME IPO opened for subscription on Wednesday, June 25, and will conclude on Friday, June 27.

3. Supertech EV IPO price: The price band of the public issue has been fixed at ₹87 to ₹92 per equity share.

4. Supertech EV IPO size: The company intends to raise nearly ₹30 crore from the issue, which it will use to meet working capital requirements, repay certain borrowings and for general corporate purposes.

5. Supertech EV IPO lot size: Bidders can apply in lots, and one lot of the SME IPO comprises 1,200 company shares.

6. Supertech EV IPO reservation: Nearly 43 per cent of the net issue is reserved for retail investors, and an equal portion is reserved for NIIs. QIBs have been allotted 4.5 per cent of the net issue, and 4.8 per cent is reserved for market makers.

7. Supertech EV IPO allotment date: The company is expected to finalise the share allotment on Monday, June 30. Successful bidders can expect shares of the company in their demat accounts on Tuesday, July 1, and bidders who fail to get the allocation may get a refund on the same day.

8. Supertech EV IPO book-running lead manager and registrar: Corporate Makers Capital Ltd is the book-running lead manager, while Skyline Financial Services Private Ltd is the registrar for the issue.

9. Supertech EV IPO listing: As per SEBI's T+3 rule of IPO listing, the SME IPO is proposed for listing on the BSE SME on Wednesday, Jul 2.

10. Supertech EV business overview: The company manufactures 12 EV models, including 8 variants of EVS, two-wheelers, and four variants of e-rickshaw electric vehicles, with facilities located in Haryana. It has a distributor base of 445 across India and a presence in 19 states.

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