1 month ago
Battery Smart Targets IPO Amid Rapid Expansion
Battery Smart is a company that lets electric two- and three-wheelers swap batteries at special stations.
They want to sell shares to the public in an IPO, which means they will ask the government regulator SEBI to approve their paperwork in September or October.
SBI Capital Markets will help them with the sale.
The company has already built more than 1,500 stations in over 75 cities and owns a lot of batteries.
They hope to grow a lot in the next few years and have big investors like Tiger Global and Blume Ventures backing them.
Battery Smart plans to file IPO draft papers with SEBI in September or October, using FY26 and June quarter financials.
SBI Capital Markets is the lead merchant banker for the proposed public issue.
The company aims for 70‑80% annual growth over the next 3‑5 years, expanding its battery‑swapping network across India.
Battery Smart has over 3 lakh lithium‑ion batteries, 1,500+ swapping stations in 75+ cities, and serves nearly 100,000 commercial EV drivers.
Investors include Tiger Global, Blume Ventures, LeapFrog Investments, and Ecosystem Integrity Fund, and the company achieved operational break‑even in FY26.
- Who
- Battery Smart, SBI Capital Markets, and major investors
- What
- Filing draft IPO papers with SEBI
- Where
- New Delhi, India
- When
- September or October 2026
- Why
- To raise capital for rapid network expansion and growth
Key facts
- Company
- Battery Smart
- IPO filing date
- September or October 2026
- Lead merchant banker
- SBI Capital Markets
- Investors
- Tiger Global, Blume Ventures, LeapFrog Investments, Ecosystem Integrity Fund
- Network size
- 1,500+ stations in 75+ cities
Quotes
A person familiar with the matter
Industry insider on Battery Smart’s IPO plans
“"The filing of draft papers with Sebi is likely to take place around September or October, using FY26 and June quarter financials, which will remain valid till December 2026."”
freepressjournal.in
Sources
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