Mumbai: Bengaluru-based electric two-wheeler manufacturer Simple Energy is preparing to launch its Initial Public Offering (IPO) with a goal to raise Rs 3,000 crore. As per media reports, the company may go public by the third quarter of FY2026-27. The move marks a significant step toward expanding its national footprint and scaling up operations.
Manufacturing Expansion with IPO Proceeds
The primary objective behind the IPO is to boost manufacturing capacity and strengthen Simple Energy’s pan-India presence. The company manufactures 95% of its vehicle components in India, reflecting a strong focus on localization and cost efficiency. This expansion will help the firm meet its growing demand across several states.
Strong Regional Presence
Currently, Simple Energy has a solid foothold in Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana, and Kerala. The company has sold approximately 2,500 electric scooters since it began deliveries in May 2023. It currently operates 20 stores and 20 service centers.
Retail Network and Market Growth Targets
The company plans to expand its dealership network from 15 to 250 outlets across 23 new states, especially targeting Tier-2 and Tier-3 cities. It also aims to achieve a sales target of 1 lakh EVs and increase its market share from 0.3% to 5% by FY2027.
Future-Focused Vision
Co-founder and CEO Suhas Rajkumar emphasized that India's future depends on clean energy. He stated that Simple Energy’s mission extends beyond metro cities to include smaller towns and rural areas, aligning with the national goal of sustainable transportation.
Company Background
Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, Simple Energy has raised over $40 million in funding. With a clear focus on Make in India, the company continues to innovate in the electric mobility space.
