Driven by Growth: OSM’s $225M Vision for India’s EV Future

Faridabad-based Omega Seiki Mobility (OSM), a manufacturer of electric three-wheelers, is exploring a public listing while seeking to raise around ₹125 crore through a pre-IPO funding round, according to people familiar with the development.

The company, known for its Rage+ cargo electric three-wheeler and Stream City passenger electric three-wheeler, is targeting an initial public offering (IPO) by the end of the next financial year. The ongoing funding round is expected to be completed by the end of the current quarter.

Investment bankers are valuing OSM at around $175-225 million, factoring in the company's projected revenue growth and valuation benchmarks for electric mobility firms.

The company has invested nearly ₹250 crore in manufacturing facilities across the Delhi-NCR region and Pune as it builds capacity to support its electric vehicle expansion plans.

The potential IPO and pre-IPO fundraise come as OSM seeks to strengthen its position in India's growing electric mobility market and accelerate its expansion across cargo and passenger electric vehicle segments.

News by Rahul Yelligetti.