Simple Energy To Launch Rs. 3,000 Crore IPO By FY2027 to Accelerate EV Expansion In India

Bengaluru-based electric vehicle (EV) manufacturer Simple Energy has announced plans to launch its Initial Public Offering (IPO) in the second or third quarter of FY27, targeting to raise Rs. 3,000 crore (approximately $ 350 million). The move marks a key milestone in the company's ambitious roadmap toward becoming a leading player in India's rapidly growing electric mobility sector. The funds raised from the IPO will be used to expand Simple Energy's manufacturing capacity and strengthen its pan-India presence, enabling the company to meet the surging demand for electric two-wheelers. The development aligns with the Government of India's broader objective of achieving 30 per cent EV penetration in new vehicle sales by 2030.

Also Read: Simple OneS Electric Scooter Launched In India 

"Clean energy is the cornerstone of India's sustainable future, and at Simple Energy, we are driven by a vision of India leading that transformation." With 95 per cent of our vehicle components manufactured domestically, we remain committed to the Make-in-India initiative. The IPO is a pivotal step as we scale operations and bring electric mobility to every corner of the country - not just metros, but also Tier 2 and Tier 3 cities". said Suhas Rajkumar, Founder and CEO of Simple Energy.

Simple Energy, which began commercial operations a few years ago, has already achieved gross margin breakeven and is on track to deliver 15 per cent gross margins within the next year. The company also expects to achieve EBITDA positivity before the end of FY2026, with net profitability targeted ahead of the IPO. 

The company has seen significant traction in its early growth phase, clocking nearly 500 per cent year-on-year revenue growth. It is aiming for Rs. 800 crore ($ 96 million) in revenue for FY2026 and expects to exceed Rs. 1,500 crore ($ 180 million) in cumulative revenue over the next 18 months.

As part of its pre-IPO strategy, Simple Energy is working to expand its footprint beyond its existing presence in Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana, and Kerala. The startup aims to grow its dealership network from 15 to 250 outlets across 23 additional states and cross 1 lakh cumulative EV sales by FY27. This would elevate its market share from 0.3 per cent to a targeted 5 per cent in India's electric two-wheeler segment.