Simple Energy plans $350mn IPO
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.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
a minute ago
- Business Standard
NHC Foods Signs Mou With Lotmor Brands, Eyes Diversification, Retail Growth, Appoints New KMPs
PNN Mumbai (Maharashtra) [India], July 28: NHC Foods Limited (BSE: 517544), a leading exporter of agricultural commodities and spices, has entered into a strategic Memorandum of Understanding (MoU) with Lotmor Brands, marking a significant move in the company's growth and diversification strategy. This grants NHC Foods the rights to manufacture a range of beverages and similar products under Lotmor's 'Nature Day' brand. The strategic move aligns with NHC Foods' strategy to diversify its portfolio beyond exports and agricultural commodities. The company plans to leverage this tie-up to expand its footprint in India's organised retail sector, with a focused entry into leading chains. NHC aims to capture the growing demand for quality packaged beverages and allied FMCG products driven by evolving consumer lifestyles and preferences. Commenting on the MoU, Satyam Joshi, the newly appointed Managing Director of NHC Foods Limited, said, "This MoU with Lotmor marks a defining moment for NHC Foods as we step into India's thriving retail sector. Our strengths in manufacturing, quality assurance, and distribution, combined with Lotmor's product innovation, will enable us to deliver exceptional value to the consumers. This is the beginning of a long-term transformation for us. Highlights: * NHC Foods Limited has entered a strategic MoU with Lotmor Brands Private Limited to manufacture beverages and similar products under Lotmor's 'Nature Day' brand, marking its diversification beyond exports and agri-commodities. * Financial performance for FY 2024-25 shows strong growth, with revenue rising 63.1% to Rs. 341.41 crore and net profit increased 184.7% to Rs. 6.69 crore, reflecting operational efficiency and business momentum. * An EGM held on July 18, approved increasing authorised share capital from Rs. 65 crores to Rs. 100 crore and issuing 6.5 crore convertible warrants on a preferential basis to Mr. Joshi." Mr. Joshi's elevation from Executive Director to Managing Director follows the company's strategic shift under new leadership. An Extraordinary General Meeting (EGM) recently approved several resolutions, including an increase in authorised share capital from Rs. 65 crore to Rs. 100 crore, and the issuance of 6.5 crore convertible warrants on a preferential basis to Mr. Joshi. Separately, the Board of Directors of NHC Foods has approved the appointment of Manoj Kumar Sharma as the Company's Chief Financial Officer. At the same time, Vijay Thakkar has been appointed as the Company Secretary and Compliance Officer. Both appointments took effect on July 16. Financially, NHC Foods continues to demonstrate robust performance. The company's revenue for the financial year 2024-25 was Rs. 341.41 crore, representing a 63.1% increase over the previous year's revenue of Rs. 209.24 crore. The company's net profit jumped by 184.7% from Rs. 2.35 crore to Rs. 6.69 crore, reflecting enhanced growth and operational efficiencies. Disclaimer: This document contains forward-looking statements, which are not historical facts and are subject to risks and uncertainties such as government actions, local developments, and technological risks. The Company is not responsible for any actions taken based on these statements and does not commit to publicly updating them to reflect future events or circumstances.
&w=3840&q=100)
Business Standard
a minute ago
- Business Standard
SGB 2017 investors set for 250% returns: Here's all you need to know
Investors in the Sovereign Gold Bond (SGB) 2017-18 Series II, issued in July 2017, are set to receive the maturity proceeds on July 28, 2025. According to the Reserve Bank of India (RBI), the final redemption price has been fixed at Rs 9,924 per gram, delivering more than 250 per cent returns for those who stayed invested for the full eight-year tenure. How the final payout was calculated According to the RBI's release dated July 25, 2025, the redemption price has been derived based on the simple average of closing gold prices of 999 purity, published by the India Bullion and Jewellers Association (IBJA), over three working days in the preceding week (July 21–25). This calculation method is consistent with SGB scheme norms and ensures alignment with prevailing market prices. From Rs 2,830 to Rs 9,924: A solid gold gain The issue price of the SGB 2017-18 Series II was Rs 2,830 per gram (excluding the Rs 50 online discount). With the final redemption value now at Rs 9,924 per gram, investors have gained Rs 7,094 per gram over eight years, translating to an absolute return of 250.67 per cent, excluding interest income. In addition to the price appreciation, investors also earned 2.5 per cent annual simple interest, paid semi-annually, making the total effective yield even higher. Redemption process: What investors should know SGBs have a fixed maturity of eight years, with an early exit option after five years. One month prior to maturity, investors receive an intimation from their bank or broker. The proceeds are automatically credited to the registered bank account on the redemption date. It is important to update any change in bank details or email ID with the relevant intermediary before the maturity date to ensure a smooth payout. What are Sovereign Gold Bonds? SGBs are government securities issued by the RBI on behalf of the Government of India. Denominated in grams of gold, they offer a way to invest in gold without the costs and risks of holding it physically. They are particularly attractive due to: -Capital gains tax exemption if held till maturity -Backing by the sovereign guarantee
Time of India
14 minutes ago
- Time of India
Bombay HC quashes order holding consumer liable for high sim card bill and upholds right to fair hearing
Representative Image MUMBAI: A decade after a Mumbai resident was saddled with a bill almost seven times the fixed-plan SIM card she purchased from a provider at the airport, the Bombay high court quashed a 2017 order of a quasi-judicial tribunal body that upheld the recovery. The High Court set out that even when the law provides for a summary resolution of disputes, principles of natural justice cannot be sacrificed and questioned the lack of 'fair play' by a Permanent Lok Adalat in denying the consumer, Bindu Narang, a chance to cross-examine a witness. The right of cross-examination is a part of fair play in action, the High Court said. A division bench of Justices M S Sonak and Jitendra Jain on July 14 ruled that when there is a dispute, even if the law provides for a 'summary'—swift—process to resolve disputes, the 'Tribunal is still guided by the principles of natural justice, objectivity, fair play, equity, and other principles of justice. The right of cross-examination is part of fair play, and whether such a right is to be granted or not depends on the pleadings and evidence of each party with regard to facts in issue. ' You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai The Adalat, in December 2017, directed the woman to pay Matrix Cellular (International) Services Pvt Ltd almost Rs 30,000 over a prepaid SIM dispute. In 2014, when headed to Dubai from Mumbai, she purchased the SIM from Matrix at the airport for a plan of Rs 3,500. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like $50/Night for a 5-Star Hotel? This Secret Booking Trick Will Shock You! Liseer Read More Undo The duration of the SIM card was from 14 December 2014 to 21 December 2014. Her lawyer, Huzefa Khokhawala, informed the High Court that she was shocked to receive a bill of almost Rs 24,000 instead. When the bill was not paid, the company approached the PLA with its claim. The PLA has three members; only one rejected her plea to cross-examine a witness and directed her to pay the bill amount with interest. Through advocates Nankani Associates, she petitioned the High Court to challenge the PLA order. In March 2019, the High Court asked her to deposit the amount in an interim order, and in July 2019, the High Court allowed her to withdraw the amount on an undertaking to pay it back if she didn't succeed in the challenge. She never removed the amount, and when she succeeded and the High Court quashed the Adalat's order, she voluntarily decided to donate the amount entirely to a rural school. The High Court said the Adalat gave no reasons for rejecting her plea to cross-examine a witness for the company. The High Court explained that 'when the facts are not seriously in dispute, the Adalat is not required to compulsorily give a party the opportunity to cross-examine the witnesses. It all depends upon the claims and counter-claims. If there is a serious dispute, parties shall be given the right to cross-examine the witness to test the veracity of a witness whose affidavit evidence is filed before the Tribunal even though the Indian Evidence Act is inapplicable.' In Narang's case, the High Court said she ought to have been given a chance to test the credibility of evidence against her and thus held the Adalat's order 'unsustainable. ' The PLA is a specialised body established by law to swiftly adjudicate disputes related to public utility services like transport, postal, and telegraph services, both pre and post-litigation cases. The HC said Legal Services Authorities Act, 1987 provides that the PLA shall be guided by the principles of natural justice, objectivity, fair play, equity and other principles of justice and cited several judgement of the apex court on the issue. The PLA is a specialised body established by law to swiftly adjudicate disputes related to public utility services like transport, postal, and telegraph services, both pre and post-litigation cases. The HC said Legal Services Authorities Act, 1987 provides that the PLA shall be guided by the principles of natural justice, objectivity, fair play, equity and other principles of justice and cited several judgement of the apex court on the issue. Appreciating Narang's offer to donate, the High Court requested its registry to send the amount and interest accrued to the Trust Padmamani Jain Shwetambar Thirth Pedhi.
