EV maker

Simple Energy

, which has its manufacturing facility in Tamil Nadu’s Krishnagiri district, is planning a $350 million or Rs 3,000 crore IPO in FY27. Currently backed by investors like Balamurugan Arumugam, Vipul Khanna, Apar Industries family office, Velumani family office and Haran family office among others, Simple Energy will launch its IPO in “Q2–Q3 of FY27,” said the company in a statement.

The amount raised will be used to “establish a larger manufacturing facility to meet pan-India demand,” it added. So far its investors have pumped in $41 million into the company. Suhas Rajkumar, founder & CEO, Simple Energy said, “As much as 95% of our vehicle components manufactured in India.With the electric two-wheeler market growing at around 20% year-on-year in FY25, Simple Energy is scaling rapidly to align with this momentum, aiming to cross 1 lakh units cumulative scooter sales by FY27. Our mission goes beyond metros to Tier 2 and Tier 3 cities. Hence the IPO marks a pivotal chapter in this journey.”