Mumbai38 minutes ago
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Bangalore-based electric two-wheeler manufacturer Simple Energy is planning to bring its initial public offering ie IPO soon.
The company has a plan to raise Rs 3,000 crore from IPO. According to media reports, the simple energy can bring the IPO by the third quarter of FY 26-27.
The two-wheeler sales of simple energy have a strong hold in Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana and Kerala.
Fund will be used to increase manufacturing capacity
Simple energy will use IPO funds to increase manufacturing capacity and to strengthen access to Pan India.
Along with this, the company has targeted a revenue growth of Rs 800 crore in FY2026. 95% of the company’s vehicle parts are formed in India.
Simple Energy was founded by Suhas Rajkumar in 2019.
Tier 2 and 3 cities Target to increase sales
The company is eyeing the dealership network in Tier-2/3 cities. For this, simple energy has been targeted to increase from 15 to 250 outlets. These outlets will be opened in 23 new states.
Along with this, the company has targeted to sell 1 lakh EVs by FY27 and market share from 0.3% to 5%.
Founder said- India’s future dependent on clean energy
Suhas Rajkumar, founder and CEO of Simple Energy, said India’s sustainable future is dependent on clean energy. Our goal is to deliver EVs not only to metro cities, but to Tier-2 and Tier-3 cities. IPO will be a big stop for our growth.
Simple energy started in 2019
Simple Energy was founded in 2019 by Suhas Rajkumar, and Shrestha Mishra. The company started selling its first electric scooter in May 2023 and has so far sold around 2,500 scooters.
The company has 20 stores and 20 service centers. Simple Energy has so far raised funding of more than $ 40 million and makes 95% of its products in India itself.
