Simple Energy Plans Rs 3,000-Crore IPO In FY27 Amid Quest For Profitability
Simple Energy Pvt. Ltd. plans to launch an initial public offering in financial year 2026-27, amid a quest for profitability that's so far eluded its much larger peers in the EV space.
The Bengaluru-based electric scooter maker plans to raise as much as Rs 3,000 crore to power its expansion plans—in terms of manufacturing and sales, according to a company statement on Wednesday.
The company claims 95% localisation already.
“Ninety-five percent of our vehicle components are manufactured in India, true to the ‘Make in India' mission,” said Suhas Rajkumar, founder and chief executive at Simple Energy. “Our mission goes beyond metros—we are committed to empowering Tier II and Tier III cities, making electric mobility accessible. Hence, the IPO marks a pivotal chapter in this journey, driving our ambition of a cleaner, greener India.”
Founded in 2019, Simple Energy makes premium electric scooters Simple ONE and Simple OneS. It's backed by a clutch of family offices and angel investors who have pumped in $41 million till date.
The company aims to achieve cumulative sales of one lakh units for a market share of 5% from 0.3% at present in FY27. To that end, the company is expanding its number of stores to 250 across India from 15 in Karnataka, Goa, Maharashtra, Andhra Pradesh, Telangana and Kerala.
That kind of growth will not come at the cost of profitability.
Simple Energy aims to achieve EBITDA breakeven before FY26 ends and net profitability before the IPO. That's something its larger and listed peers Ola Electric Mobility Ltd. and Ather Energy Ltd. haven't been able to pull off.
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