The two -wheeled electrical manufacturer simple energy plans to raise around ₹ 3,000 million rupees through the initial public offer for FY27 to finance its market expansion, new manufacturing unit and R&D, according to its founder and CEO its Rajkumar.
The company is intensifying its expansion of the network of the current 15 stores and 15 service centers to have 500 contact points in the next two years to increase its multifold income before the initial public offer (IPO), Rajkumar told PTI.
The Startup of Electric Vehicles (EV) based in Bengaluru has established an attentive objective to register ₹ 800 million rupees in revenue in fiscal year 2016 with the aim of crossing 1.5 billion rupees in cumulative revenues in the next 18 months.
Simple Energy had registered income from ₹ 40 million rupees in fiscal year 2015, he said.
“After spending seven years in the industry, we are seeing an opi in fiscal year 27. The reason we are trying to plan an OPI in fiscal year 27 is driven by our growth last year,” Rajkumar said.
Preparing, he said: “In Q2 or Q3 or Fy27, we seek to raise around $ 350 million, $ 3,000 million rupees, that is our plan. We are trying to raise this money for two specific things. 150 odd stores to approximately 500 stores in the next two years.”
Rajkumar also said: “We also want to invest in our manufacturing capabilities to meet the demand we will still create. This is where our approach is.”
At present, the company’s installation in Hosur in Tamil Nadu has an annual capacity of 3 Lakh units, he said, added that “we want to double that capacity after the list.”
As the current factory cannot accommodate the expansion, the company will have to look at a new place, he said, and added “but if we will continue in the same location or we will see somewhere else depend on the call of our commercial office, Deplant.”
In terms of sales, Rajkumar said: “In fiscal year 2015, we made 4,000 odd scooters, and in fiscal year26, we are seeing around 55,000 scooters in sales.”
With a growing presence in key states such as Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana and Kerala, Simple Energy said it aims to achieve cumulative sales or 1 LAKH EV before OPI.
Posted on May 7, 2025