Omega Seiki Mobility (OSM) is courting about ₹125 crore in pre-IPO funding as it prepares to list by the close of the next financial year. The capital drive matters because OSM is one of the few Indian electric-vehicle makers that has already turned a profit and now aims to scale its two-, three- and four-wheel product lines.

Why the funding matters

Investment bankers value the Faridabad-based firm at roughly $175 million-$225 million, a range that mirrors its recent revenue trajectory and sector-specific multiples. Closing the round by the end of the current quarter would give OSM the cash to push a multi-pronged expansion plan and meet the timing requirements of a public offering.

Profitability sets OSM apart

Most EV startups in India have relied on large cash infusions while posting high burn rates. OSM, by contrast, posted FY26 revenue of about ₹330 crore and is targeting ₹450 crore for FY27. It has already achieved EBITDA profitability and expects to be cash-flow positive within this fiscal year. The company’s balance sheet rests largely on promoter capital, with Japan’s Exedy Corporation as the sole strategic investor. That disciplined financing distinguishes OSM from peers whose funding has dried up or who have been forced into production pauses.

Expansion plans in detail

  • Manufacturing capacity – OSM has spent nearly ₹250 crore on plants in the Delhi-NCR belt and Pune. The next step is to improve utilisation of these sites while adding capacity for larger electric trucks.
  • Three-wheeler sales – The passenger electric three-wheeler segment currently moves 600–700 units a month. Management believes better working capital and a wider dealer network could double or even triple that volume.
  • R&D focus – Funds will go to a bigger electric truck platform, building on a one-tonne prototype the company already built. Scaling that line hinges on achieving more attractive unit economics.
  • Dealer and overseas reach – OSM plans to accelerate dealer onboarding in India and push its products into overseas markets, using the existing Pune and Faridabad facilities.

Risks and counter-points

Larger incumbents such as Bajaj Auto and Mahindra Last Mile Mobility dominate the mass-market segments, leaving OSM to compete on niche profitability rather than sheer volume.

What to watch

Takeaway: OSM is seeking ₹125 crore in pre-IPO funding and has achieved EBITDA profitability.