Simple Energy Targets ₹3,000 Crore IPO to Boost EV Manufacturing

Homegrown clean-tech startup Simple Energy has announced plans to launch its initial public offering (IPO) in Q2–Q3 of FY27, targeting to raise Rs 3,000 crore (approx. USD 350 million). The funds will be used to establish a larger manufacturing facility to meet growing pan-India demand.

The IPO will support the company’s goal of scaling production and advancing India's shift to sustainable mobility, in line with the government’s target of 30% EV adoption by 2030. Riding on a 20% YoY growth in the electric two-wheeler market in FY25, Simple Energy aims to achieve one lakh cumulative scooter sales by FY27.

“Our vehicles are 95% locally sourced, embodying the Make-in-India vision,” said Suhas Rajkumar, Founder and CEO. “This IPO is a key step in our mission to bring clean, accessible mobility to not just metros, but also Tier 2 and Tier 3 cities.”

News by Rahul Yelligetti.