Simple Energy, the Bengaluru-based electric vehicle (EV) startup is planning to raise Rs. 3,000 crore through an Initial Public Offering (IPO) by the second or third quarter of FY2027. With India targeting 30% EV penetration in new vehicle sales by 2030, Simple Energy’s initiative is well-aligned with national sustainability goals

EV Manufacturer Simple Energy to Launch Rs. 3,000 Crore IPO by FY2027

Simple Energy, the Bengaluru-based electric vehicle (EV) startup is planning to raise Rs. 3,000 crore through an Initial Public Offering (IPO) by the second or third quarter of FY2027. The ambitious move is aimed at driving large-scale expansion and boosting the company’s presence in India’s rapidly growing electric mobility space.

Strategic Use of IPO Proceeds

The capital raised will be directed toward ramping up production capabilities and deepening the company’s reach across the country. With India targeting 30% EV penetration in new vehicle sales by 2030, Simple Energy’s initiative is well-aligned with national sustainability goals. The funds will support increased manufacturing capacity, dealership expansion, and enhanced supply chain infrastructure.

Financial Milestones and Growth Opportunities

Since launching commercial operations, Simple Energy has demonstrated rapid growth, achieving gross margin breakeven and targeting 15% gross margins within a year. The company aims to achieve EBITDA profitability before FY2026 ends, with net profitability projected ahead of the IPO launch.

Revenue growth has been particularly striking, with a nearly 500% year-on-year increase. The startup is forecasting Rs. 800 crore in revenue for FY2026, and expects cumulative revenues to exceed Rs. 1,500 crore over the next 18 months.

National Expansion Plans

Currently active in six Indian states including Karnataka, Maharashtra, and Kerala- Simple Energy plans to expand its dealership network from 15 to 250 outlets, spanning 23 more states. It also targets surpassing 1 lakh cumulative EV sales by FY2027. These efforts aim to raise its market share in India’s electric two-wheeler sector from 0.3% to 5%, positioning the company as a significant player in the segment.

Conclusion

As India’s EV market enters a phase of rapid acceleration, fueled by government incentives and consumer demand for greener alternatives, Simple Energy’s planned IPO represents a bold step forward. By leveraging domestic manufacturing, scaling operations nationwide, and focusing on affordability and innovation, the company is poised to play a pivotal role in shaping the future of electric mobility in India.

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