E-scooter manufacturer Simple Energy gears up for Rs 3,000-cr IPO in FY27

Electric scooter manufacturer Simple Energy is preparing to launch its Rs 3,000-crore initial public offering in FY26. The company plans to utilise the IPO proceeds for retail expansion and setting up a new manufacturing facility, Suhar Rajkumar, CEO & founder, Simple Energy, told Business Today.

“We are looking at IPO by Q2--Q3 of FY27… We are looking to raise Rs 3,000 crore through the listing. And we want to raise this amount based on the revenue targets this year. We are looking at Rs 800 crore in revenue for FY26. We are looking at Rs 1,050 crore in revenue in the next 18 months. We will be EBITDA positive by the end of FY26. Before listing, we want to become a profitable company,” says Rajkumar.

Following the IPO, the company is targeting 500 stores by FY27. The company currently has 15 stores in India, which the company plans to scale up to 150 stores by the end of FY26. “In the immediate next two quarters, we will have 70 stores. So, we are expanding rapidly, and we want to achieve this milestone before listing,” says Rajkumar.

Apart from retail expansion, another key focus area of Simple Energy would be in terms of capacity expansion.

“Expansion will be the key focus area for us for utilisation of the proceeds. Currently, our capacity is limited. We want to invest these proceeds in setting up a new manufacturing facility. Simple Energy currently has 3 lakh units in annual capacity. With the IPO proceeds, we are looking to scale up our capacity to 6-7 lakh units,” notes Rajkumar.

Following the IPO, the company plans to gain a 5% market share. We are targeting a 10-15% market share later. In FY27, we are looking at 5% market share, which is 0.5% at present,” says Rajkumar.

Founded in 2019, Simple Energy sells the popular electric scooter models Simple One and Simple OneS scooters.