Pure EV Plans Major IPO Targeting ₹2000 Crore Turnover

Pure EV, an electric two-wheeler manufacturer, has plans to launch a significant Initial Public Offering (IPO) in 2025, building on its growth trajectory. The company is backed by investors such as the NATCO Pharma Family Office, Laurus Labs Family Office, HT Ventures, BCCL, UEPL, and i-TIC IIT Hyderabad. The company’s promoters, who retain an 85 per cent shareholding, have consistently ensured profitability at an operating level.

Key strengths as the company prepares for its IPO

With in-house battery manufacturing and backward integration of its powertrain and software, Pure EV holds a portfolio of 120 intellectual properties. The company has achieved three years of operating profits without government subsidies, driving organic sales with strong cash flows. Recently, it launched two electric motorcycles, quickly securing the No. 2 position in a segment poised for 100X growth in the next five years. With expectations of 20X turnover growth over the next four years, Pure EV is strategically positioned in the mass commute market. Existing partnership with IIT Hyderabad will further innovation and R&D, including the upcoming launch of solid state battery technology in FY'26 with engineering firm PDSL from Coventry, UK.

By expanding its dealer network, the company aims to make electric mobility accessible across Tier 1 and Tier 2 cities. They believes that offering IPO diverse range of electric two-wheelers and establishing a strong presence in these areas will meet the growing demand for sustainable transportation options and contribute to a greener future.

Commenting on this plan, Rohit Vadera, CEO of Pure EV, said that, "As we embark on our journey towards a significant IPO in 2025, we are excited to continue driving the electric revolution in India. We believe that the future of transportation is electric, and our innovative AI-based technology, combined with a focus on performance and efficiency, will allow us to capture a significant share of the rapidly growing motorcycle segment."

Currently, Pure EV commands approximately 7 per cent market share at the Regional Transport Office (RTO) level in the EV segment, with ambitions to significantly expand its reach in Tier 1 and Tier 2 cities across India aggressively. The company's recent launch of electric motorcycles positions it to capitalise on the growing market, which is expected to expand by 100 times in the next five years, given that 65 per cent of two-wheelers sold in India are motorcycles.

With ambitious goals set for the coming years, Pure EV aims to reach a turnover of Rs. 2000 crore within four years, supported by strong profit after tax (PAT) figures.