PURE EV
New Delhi [India], September 2: PURE EV, a pioneering brand in the electric two-wheeler (2W) segment, has announced plans to launch a significant Initial Public Offering (IPO) in 2025, building on its remarkable growth trajectory. The company is backed by prominent investors, including the NATCO Pharma Family Office, Laurus Labs Family Office, HT Ventures, BCCL, UEPL, and i-TIC IIT Hyderabad, showcasing strong investor confidence. PURE EV has consistently demonstrated sound financial fundamentals, achieving operating profits for the past three years and maintaining positive cash flows without dependence on FAME subsidies. 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 FY26 with engineering firm PDSL from Coventry, UK.
By expanding its dealer network, PURE EV aims to make electric mobility accessible across Tier 1 and Tier 2 cities. The company 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.
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. Our commitment to innovation and sustainability has positioned PURE EV as a leader in the electric two-wheeler market. 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. With the support of our talented team and investors, we are not just selling vehicles; we are inspiring a movement towards sustainable living that benefits our communities and our planet."
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.
As technology advances and battery prices decrease globally, PURE EV is strategically poised to leverage these trends. The company's innovative offerings, combined with an aggressive marketing and branding strategy, will drive the expansion of its dealer network and accelerate sales growth in both scooters and motorcycles. With ambitious goals set for the coming years, PURE EV aims to reach an impressive turnover of Rs 2000 crore within four years, supported by strong profit after tax (PAT) figures.
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