The Indian IPO market is constantly evolving, with new opportunities emerging across various sectors. The upcoming Supertech EV Ltd IPO is set to capture attention, particularly as it operates within the rapidly growing electric vehicle (EV) segment. This article aims to provide a clear and comprehensive guide for general consumers, industry experts, and potential investors, covering its key details, market sentiments, and, importantly, its Shariah compliance status.
Understanding the nuances of the EV sector and its investment implications, especially from an ethical and Shariah-compliant perspective, is crucial for informed decision-making.
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About Supertech EV Ltd: Driving Innovation in Electric Vehicles
Supertech EV Ltd (referred to by its IPO symbol, SUPERTECH) is an emerging player in the electric vehicle industry. The company is involved in the manufacturing, assembly, or distribution of electric vehicles or related components and solutions. As the world shifts towards sustainable transportation, companies like Supertech EV are at the forefront of this revolution, contributing to greener mobility solutions.
Their focus likely extends to developing efficient, reliable, and accessible electric vehicles, catering to the increasing demand for eco-friendly personal and commercial transport options. With a commitment to innovation, Supertech EV aims to establish itself as a significant entity in India’s burgeoning EV ecosystem.
Supertech EV IPO Snapshot: Key Details You Need to Know
The Supertech EV Ltd IPO is a BSE SME Bookbuilding issue. Here are its essential details, based on the tentative schedule:
- IPO Open Date: Wednesday, June 25, 2025
- IPO Close Date: Friday, June 27, 2025
- Issue Price Band: ₹87 to ₹92 per equity share
- Face Value: ₹10 per share
- Sale Type: Fresh Capital
- Total Issue Size: 32,49,600 shares (aggregating up to ₹29.90 Crore)
- Reserved for Market Maker: 1,63,200 shares (aggregating up to ₹1.50 Crore) for Asnani Stock Broker Private Limited.
- Net Offered to Public: 30,86,400 shares (aggregating up to ₹28.39 Crore)
- Minimum Lot Size for Retail: 1200 Shares (Amount: ₹1,10,400 at upper price band)
- Listing At: BSE SME
- Tentative Allotment: Monday, June 30, 2025
- Tentative Listing Date: Wednesday, July 2, 2025
- Cut-off time for UPI mandate confirmation: 5 PM on June 27, 2025
(Source: Chittorgarh IPO Details – Supertech EV IPO)
Crucial Insight: Shariah Status of Supertech EV Ltd IPO
For investors committed to Islamic finance principles, the Shariah compliance of an investment is a primary consideration. Shariah law sets specific guidelines regarding permissible business activities and financial ratios, particularly concerning interest-bearing debt.
Based on our detailed screening, Supertech EV Ltd is categorized as “Non-Shariah Compliant.”
As indicated by the screening:
- The Business: Passes the Shariah screen.
- Impermissible income to total revenue: Is well within the acceptable limits.
- Interest-bearing debt to total assets: Is 33.04%, which is marked as “FAIL.” This ratio exceeds generally accepted Shariah screening thresholds (33%) for interest-bearing debt, making it the primary reason for non-compliance.
- Illiquid assets to total assets ratio: Is passing the criteria.
- Net liquid assets v market capitalisation & Non-Compliant Investments to Total Assets: Both pass the screening criteria.
The screening notes further elaborate on the debt issue:
“Even after removing ₹1.51 crore interest-free loans from total borrowings, the company still breaks Rule 3. This is because its remaining loans (both secured and unsecured) are above the allowed limit.” This note explicitly confirms that despite accounting for interest-free loans, the overall debt structure pushes the company outside Shariah compliance. This is a critical factor for users of platforms like our app, IslamicStock, who rely on such detailed screenings for ethical investing.
Understanding IPO Subscription Status
The subscription status of an IPO provides a real-time indication of the demand for the shares from various investor categories: Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).
As of June 25, 2025, at around 03:00 PM (Day 1), the Supertech EV IPO Subscription Status (Bidding Detail) is as follows:
- QIB: 0.00 times subscribed
- NII: 0.55 times subscribed
- Retail: 1.24 times subscribed
- Total: 0.85 times subscribed (1,716 total applications)
(Source: Chittorgarh IPO Subscription – Supertech EV)
On Day 1, the retail portion is oversubscribed, while QIB and NII categories are still undersubscribed. Monitoring this status daily throughout the bidding period is essential to gauge overall investor interest.
Grey Market Premium (GMP) Insights
The Grey Market Premium (GMP) is an unofficial, speculative price at which IPO shares trade before their official listing on the stock exchange. It serves as an early, unofficial indicator of market sentiment, reflecting the premium (or discount) over the IPO’s issue price that investors are willing to pay in the unofficial market.
For the Supertech EV Ltd IPO, the current GMP is:
- Supertech EV IPO GMP Today (June 25, 2025): ₹15
- Expected Listing Price (Upper Band + GMP): ₹92 (Upper Price Band) + ₹15 (GMP) = ₹107
- Expected % Gain/Loss: (₹15 / ₹92) * 100% = 16.30%
Important Note: GMP is not an official indicator. It is highly speculative, unregulated, and can change drastically based on market news, sentiment, and other factors. It should only be used as a very rough guide and not as a guarantee of listing performance. Investors should always base their decisions on thorough research of the company’s fundamentals, financials, and the overall market.
Making an Informed Investment Decision
Investing in an upcoming IPO requires careful consideration. For the Supertech EV Ltd IPO, potential investors should review several factors:
- Company Fundamentals: Thoroughly evaluate SUPERTECH’s business model, financial performance, growth strategies, and competitive landscape within the electric vehicle sector.
- Industry Outlook: Assess the prospects of the rapidly evolving EV industry, including government policies, technological advancements, and consumer adoption rates.
- IPO Valuations: Assess if the IPO price band offers a reasonable valuation compared to its peers and industry growth potential.
- Risk Factors: Understand the specific risks detailed in the company’s Red Herring Prospectus (RHP), particularly those related to new technologies and market competition.
- Shariah Compliance: For investors strictly adhering to Shariah principles, the “Non-Shariah Compliant” status due to the high interest-bearing debt ratio is a crucial factor to consider.
Disclaimer
This article is for informational and educational purposes only and should not be considered financial advice. IPO investments carry inherent risks, and there is no guarantee of returns. Readers are strongly encouraged to conduct their own due diligence, consult with a SEBI-registered financial advisor, and carefully read the Red Herring Prospectus (RHP) before making any investment decisions. The information on Shariah compliance is based on the provided screening and common interpretations of Islamic finance principles, specifically highlighting the debt ratio as the reason for non-compliance.
To learn more about IPOs, detailed company analyses, and Shariah-compliant investment options, visit our website at IslamicStock Website, explore insightful articles on our blog at IslamicStock Blog, and download our application, IslamicStock, for in-depth screenings and investment guidance.