Simple Energy is preparing for a ₹3,000 crore ($350 million) Initial Public Offering (IPO) in FY27. This move is aimed at boosting its expansion, product innovation, and profitability, as the company works to contribute to India’s goal of 30 per cent electric vehicle sales by 2030.
Revenue growth and profitability focus
Simple Energy is set to achieve ₹800 crore ($96 million) in revenue for FY26, fueled by nearly 500 per cent year-on-year growth. With plans to surpass ₹1,500 crore ($180 million) in cumulative revenue over the next 18 months, the company is also targeting net profitability well before the IPO.
“Clean energy is the cornerstone of India’s sustainable future,” said Founder & CEO Suhas Rajkumar. “We’re committed to empowering Tier 2 and Tier 3 cities with accessible electric mobility.”
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Manufacturing and market expansion plans
To meet increasing demand, Simple Energy is planning to expand its manufacturing capabilities. The company aims for 1 lakh cumulative sales and a 5 per cent market share by FY27. With nearly 95 per cent of its vehicle components locally sourced, Simple Energy aligns with the Make-in-India initiative.
Backed by visionary investors, including Balamurugan Arumugam and the Apar Industries Family Office, the company is set to grow its dealership network to 250 outlets across 23 states, positioning itself as a leader in India’s EV revolution.