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Simple Energy IPO: Bangalore -based company simple energy, which makes electric vehicle, is now preparing to step into the stock market. The company’s plan is to launch its initial public issue (IPO) in the second or third quarter of FY 27. Through this, the company wants to raise Rs 3,000 crore (about $ 350 million).
Money will be used in this work
This step taken by the company will prove to be a milestone to move forward in the fast growing electric mobility sector in India. The company will use the amount raised from the IPO to increase its manufacturing capacity and strengthen its hold in the EV sector across the country so that it can increase the share of EV in all new vehicles to 30 percent by 2030. This is in line with the widespread objective of the Government of India.
EV will reach every corner of the country
According to media reports, Suhas Rajkumar, founder and CEO of Simple Energy, has said, “Clean energy is very important for India’s Sustainable Future and simple energy is inspired by this transformation of the country. 95 percent of our electric vehicle components are made in India only. We are committed to Make-in-India initiative. IPO is a big step because we are expanding our operations and bringing electric mobility to every corner of the country – not only in metros, but also in Tier 2 and Tier 3 cities. ”
Company growing rapidly in EV segment
The company’s growth has been tremendous in the initial phase. Revenue has been gained up to about 500 percent annually. The company has set a target of Rs 800 crore ($ 96 million) for FY 2026. The company is expected to generate more than Rs 1,500 crore ($ 180 million) in the next 18 months.
This is the company’s plan before IPO
The company is rapidly increasing its presence in states like Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana and Kerala. The goal of the startup is to increase its dealership network from 15 to 250 outlets in 23 separate states and complete the sale of 1 lakh electric vehicles. With this, its market share in India’s electric two-wheeler segment will increase from 0.3 percent to 5 percent according to its target.
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