Simple Energy: Gearing Up for a Green IPO Journey by FY27
Electric vehicle manufacturer Simple Energy is planning an IPO by FY27 to raise Rs 3,000 crore. It aims to expand its network to 500 locations and double its manufacturing capacity, targeting cumulative revenue of Rs 1,500 crore over the next 18 months.
- Country:
- India
Simple Energy, a prominent Bengaluru-based electric vehicle startup, is actively strategizing to go public by launching an initial public offering (IPO) by fiscal year 2027. The company, led by founder and CEO Suhas Rajkumar, aims to raise approximately Rs 3,000 crore through the IPO to fund its expansive plans in manufacturing, research, and development.
Currently, Simple Energy operates 15 stores and 15 service centers, and it envisions a considerable network expansion to 500 touchpoints within the next two years. This ambitious growth strategy is aimed at significantly increasing its revenue ahead of the public offering, with targets set at $96 million in FY26 and a cumulative revenue surpassing $180 million over the subsequent 18 months.
To meet the demands of a burgeoning market, Simple Energy plans to double its annual production capability, which presently stands at 3 lakh units, post-listing. The enterprise is also contemplating the establishment of a new manufacturing facility to accommodate this growth. Simultaneously, the company projects a surge in scooter sales, with expectations to reach an impressive milestone of 1 lakh electric vehicle sales before the planned IPO.
(With inputs from agencies.)
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