Latest news with #SimpleEnergy
Time of India
09-05-2025
- Automotive
- Time of India
Simple Energy plans $350mn IPO
EV maker Simple Energy , which has its manufacturing facility in Tamil Nadu's Krishnagiri district, is planning a $350 million or Rs 3,000 crore IPO in FY27. Currently backed by investors like Balamurugan Arumugam, Vipul Khanna, Apar Industries family office, Velumani family office and Haran family office among others, Simple Energy will launch its IPO in 'Q2–Q3 of FY27,' said the company in a statement. The amount raised will be used to 'establish a larger manufacturing facility to meet pan-India demand,' it added. So far its investors have pumped in $41 million into the company. Suhas Rajkumar, founder & CEO, Simple Energy said, 'As much as 95% of our vehicle components manufactured in the electric two-wheeler market growing at around 20% year-on-year in FY25, Simple Energy is scaling rapidly to align with this momentum, aiming to cross 1 lakh units cumulative scooter sales by FY27. Our mission goes beyond metros to Tier 2 and Tier 3 cities. Hence the IPO marks a pivotal chapter in this journey.'
Entrepreneur
07-05-2025
- Automotive
- Entrepreneur
Simple Energy Eyes INR 3,000 Cr IPO by FY27 to Accelerate EV Expansion
The proceeds will be used to set up a large-scale manufacturing facility to cater to pan-India demand, further aligning with the Government of India's vision of EVs constituting 30% of new vehicle sales by 2030. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based clean-tech startup Simple Energy is gearing up for its Initial Public Offering (IPO) in Q2–Q3 of FY27, aiming to raise INR 3,000 crore (USD 350 million). "The IPO marks a significant strategic milestone as the company accelerates its journey toward market leadership, product innovation, and profitability," the company said. The proceeds will be used to set up a large-scale manufacturing facility to cater to pan-India demand, further aligning with the Government of India's vision of EVs constituting 30% of new vehicle sales by 2030. Founder and CEO Suhas Rajkumar stated, "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. As a homegrown clean-tech startup, we take pride in being part of this movement, with 95% of our vehicle components manufactured in India, true to the Make-in-India mission." With a rapidly growing electric two-wheeler market projected to grow at ~20% YoY in FY25, Simple Energy aims to cross 1 lakh cumulative scooter sales by FY27. The company is also expanding beyond metros, focusing on Tier II and Tier III cities, and plans to increase its dealership footprint from 15 to 250 outlets across 23 states. The company reported a 500% year-on-year revenue growth and has set ambitious targets—INR 800 crore in revenue for FY26 and INR 1,500 crore in cumulative revenue over the next 18 months. It expects to achieve EBITDA positivity before FY26 ends and targets 15% gross margins over the next year. Founded in 2019, Simple Energy has already broken even on gross margins and developed India's longest-range electric two-wheeler. The company is backed by investors including the Apar Industries' promoters, the Haran and Vasavi family offices, and others who have invested USD 41 million to date. The IPO is set to propel the company further as it strengthens its position in India's accelerating EV revolution.
Time of India
07-05-2025
- Automotive
- Time of India
Simple Energy plans IPO by FY27, aims to raise Rs 3,000 cr
Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Live Events Electric two-wheeler maker Simple Energy plans to raise about Rs 3,000 crore through initial public offering by FY27 to fund its market expansion, new manufacturing unit, and R&D, according to its Founder and CEO Suhas Rajkumar. The company is stepping up its network expansion from the current 15 stores and 15 service centers to have 500 touchpoints in the next two years to grow its revenue multi-fold ahead of the initial public offering (IPO), Rajkumar told Bengaluru-based electric vehicle (EV) startup has set an ambitious target of clocking USD 96 million (Rs 800 crore) in revenue in FY26 with an aim to cross USD 180 million (Rs 1,500 crore) in cumulative revenue over the next 18 Energy had clocked Rs 40 crore revenue in FY25, he said."After spending seven years in the industry, we are looking at an IPO in FY27. The reason we are trying to plan an IPO in FY27 is driven by our growth in last year," Rajkumar he said, "By Q2 or Q3 of FY27, we are looking to raise about USD 350 million -- about Rs 3,000 crore odd -- that is our plan. We are trying to raise this money for two specific things. Of course, R&D is the core of our company but apart from that, we have plans of expanding from some 150 odd stores to roughly about 500 stores in the next two years,"Rajkumar further said, "We also want to invest in our manufacturing capacities to meet the demand that we will be creating yet. This is where our focus lies."At present, the company's facility at Hosur in Tamil Nadu has an annual capacity of 3 lakh units, he said, adding "We want to double that capacity post-listing".As the current factory cannot accommodate the expansion, the company will have to look at a new place, he said, adding "but whether we will continue in the same location or look at some other place depends on our business office's call, depending on how the commercials are working out for us as a business ".In terms of sales, Rajkumar said, "In FY25, we did about 4,000 odd scooters, and in FY26, we are looking at about 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 of 1 lakh EVs before the IPO.
Economic Times
07-05-2025
- Automotive
- Economic Times
Simple Energy plans IPO by FY27, aims to raise Rs 3,000 cr
Electric two-wheeler maker Simple Energy plans to raise about Rs 3,000 crore through initial public offering by FY27 to fund its market expansion, new manufacturing unit, and R&D, according to its Founder and CEO Suhas Rajkumar. The company is stepping up its network expansion from the current 15 stores and 15 service centers to have 500 touchpoints in the next two years to grow its revenue multi-fold ahead of the initial public offering (IPO), Rajkumar told PTI. ADVERTISEMENT The Bengaluru-based electric vehicle (EV) startup has set an ambitious target of clocking USD 96 million (Rs 800 crore) in revenue in FY26 with an aim to cross USD 180 million (Rs 1,500 crore) in cumulative revenue over the next 18 months. Simple Energy had clocked Rs 40 crore revenue in FY25, he said. "After spending seven years in the industry, we are looking at an IPO in FY27. The reason we are trying to plan an IPO in FY27 is driven by our growth in last year," Rajkumar said. Elaborating, he said, "By Q2 or Q3 of FY27, we are looking to raise about USD 350 million -- about Rs 3,000 crore odd -- that is our plan. We are trying to raise this money for two specific things. Of course, R&D is the core of our company but apart from that, we have plans of expanding from some 150 odd stores to roughly about 500 stores in the next two years," Rajkumar further said, "We also want to invest in our manufacturing capacities to meet the demand that we will be creating yet. This is where our focus lies." ADVERTISEMENT At present, the company's facility at Hosur in Tamil Nadu has an annual capacity of 3 lakh units, he said, adding "We want to double that capacity post-listing". As the current factory cannot accommodate the expansion, the company will have to look at a new place, he said, adding "but whether we will continue in the same location or look at some other place depends on our business office's call, depending on how the commercials are working out for us as a business ". ADVERTISEMENT In terms of sales, Rajkumar said, "In FY25, we did about 4,000 odd scooters, and in FY26, we are looking at about 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 of 1 lakh EVs before the IPO. (You can now subscribe to our ETMarkets WhatsApp channel)
NDTV
07-05-2025
- Automotive
- NDTV
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. "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.
