Zypp Electric lines up $200M IPO for FY28, taps Axis, SBI Cap, DAM Capital
Gurugram-based last-mile EV rental platform Zypp Electric has appointed three bankers for a $150-200 million IPO targeted FY28, alongside a $40-50 million pre-IPO round. Revenue jumped to ₹437.9 cr in FY25 from ₹292.7 cr, but losses widened to ₹107.5 cr. Last valued at $331 million.
What happened
EV last-mile logistics startup Zypp Electric, which rents e-scooters to delivery and ecommerce firms, has appointed Axis, SBI Capital and DAM Capital for a
Key facts
- $200 million IPO
- $150-200 million issue size
- $40-50 million pre-IPO round
- $331 million last valuation
- $76.5 million raised to date
- ₹437.9 crore FY25 revenue
- ₹292.7 crore FY24 revenue
- ₹107.5 crore FY25 loss
- 500 FOCO scooters
Why this matters
Zypp's banker mandate to Axis, SBI Cap and DAM Capital signals a crowded EV logistics IPO pipeline forming for FY28—worth mapping against Yulu, Battery Smart and other last-mile rivals.
Also reported by
- Mint · Companies — Same time