Omega Seiki Mobility Raises ₹100 Crore Ahead of Planned Public Market Debut

Faridabad-based electric commercial vehicle maker Omega Seiki Mobility (OSM) has raised ₹100 crore in two back-to-back funding rounds in under a month, bringing in fresh external capital as it expands manufacturing and evaluates a stock-market listing.

The latest ₹50-crore tranche, announced on August 20, was led by SKG Asset Management and Unistone Capital. The round also included participation from the Sanjeev Agarwal and Brijesh Parekh family offices, alongside other investors. This followed a prior ₹50-crore round in late July involving Securocorp Securities, the Saket Aggarwal Family Office, Sangeeta Pareekh, and Vanshika Sharma.

These rapid fund-raises introduce a new set of outside investors into the company, which has historically been backed by founder and chairman Uday Narang and the Anglian Omega Group. The promoter group currently holds approximately 73 percent of OSM, leaving substantial headroom to raise external equity while retaining majority control.

The ₹100-crore infusion coincides with OSM's evaluation of a move to the public markets. While the company has not yet disclosed a definitive IPO size, valuation, timing, or structure, market experts and sector analysts estimate that OSM could eventually look at a public issue valued between ₹400 and ₹500 crore, depending on capital requirements and market conditions.

Sector estimates indicate that an issue of this scale could comprise ₹300 to ₹350 crore in fresh shares, alongside an offer for sale (OFS) of ₹100 to ₹150 crore. Fresh capital is earmarked for expanding manufacturing facilities in Faridabad and Pune, developing electric light commercial vehicles, and reducing debt, while the OFS would provide partial liquidity to existing shareholders. Market analysts estimate that potential dilution during the listing could range between 26 and 30 percent.

OSM has stated that it is currently evaluating its path toward the public markets. Pre-positioned research and estimates place the company's indicative valuation in a broad range of ₹1,775 to ₹2,833 crore. Against a reported FY26 revenue of approximately ₹333 crore, this implies a price-to-sales multiple of roughly 5.3 to 8.5 times.

For the financial year, OSM reported 13 percent revenue growth, a profit after tax of ₹7.3 crore, and an EBITDA margin of 7.7 percent. This profitability differentiates the company from several loss-making electric vehicle startups, though the upper end of its estimated valuation range requires investors to price in substantial future growth.

OSM’s commercial electric vehicle focus differentiates its business model from consumer-focused electric two-wheeler makers. Because fleet vehicles typically experience high utilization, uptime, operating costs, and total cost of ownership remain critical to customer purchasing decisions. The company's current client roster includes major firms such as Amazon, Flipkart, Zomato, BigBasket, Porter, Maersk, and Nestlé.

The company plans to deploy the newly raised capital to expand its manufacturing and research and development capabilities, while scaling its dealer and service network from roughly 150 touchpoints currently to 250 by FY28.

“The confidence shown by our investors strongly validates our vision, execution capabilities and long-term strategy,” said Uday Narang, Founder and Chairman of Omega Seiki Mobility.

"Securing ₹100 crore in back-to-back funding rounds is a significant milestone for Omega Seiki Mobility as it prepares for a potential public market entry. Achieving profitability with a positive EBITDA margin sets OSM apart from many peers in the electric vehicle sector, where cash burn remains a major challenge. Maintaining strong fundamentals and expanding service touchpoints will be critical as the company scales its operations and navigates its next phase of growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes