Simple Energy has announced its plan to raise INR 3,000 crore (approximately $350 million) through an Initial Public Offering (IPO) scheduled for the second or third quarter of FY27. The Bengaluru-based electric two-wheeler startup, founded in 2019, is preparing to use the capital to expand its manufacturing footprint and scale operations across the country.
The company, which has seen a 500% year-on-year revenue growth, is aiming for a topline of INR 800 crore in FY26. Simple Energy expects to exceed INR 1,500 crore in cumulative revenue over the next 18 months. It is also targeting EBITDA-level profitability by the end of FY26 and hopes to become net-profitable before the IPO launch.
In preparation for the IPO, Simple Energy plans to scale its cumulative vehicle sales to 1 lakh units and increase its dealership network from 15 to 250 outlets across 23 additional states. Its current presence is spread across Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana, and Kerala. The company also aims to raise its market share in the electric two-wheeler segment from the current 0.3% to 5% by FY27.
Suhas Rajkumar, Founder and CEO, highlighted that 95% of the firm’s vehicle components are manufactured domestically. The funds will also be used to set up a larger manufacturing facility to meet rising national demand for electric vehicles.
In terms of margins, the company has already achieved breakeven at the gross level and is aiming for a 15% gross margin within the next year. As the electric two-wheeler market grows at an annual rate of 20%, Simple Energy’s current roadmap reflects a strong push toward cost discipline and long-term scale.
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