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Battery Smart reportedly targets September–October DRHP filing for IPO

Delhi NCR battery-swapping startup Battery Smart is reportedly preparing to file its IPO DRHP in September or October, including FY26 and June-quarter financials. The company operates over 1,500 battery-swapping stations across 75-plus Indian cities and says it achieved FY26 operational break-even.

Newer report adds to this story , : Raised Rs 185.5 crore ($19.5 million) in a Series C led by Rising Tide Ventures.

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Reported figures

From the report. Source details below

India battery-swapping market valued at $48.13 million in 2025
Market projected to reach $517.92 million by 2034
30.21% projected CAGR for 2026-2034
Shiprocket IPO valuation around ₹7,000 crore
LEAP India ₹2,480 crore IPO
LEAP India price band ₹151-159 per share
Table Space targeting up to $350 million
Zepto pre-IPO fundraise around ₹1,000 crore

Also in the report

  • 70-80% expected annual growth over the next three to five years
  • Over 3 lakh lithium-ion batteries deployed
  • Nearly 1 lakh commercial EV drivers
  • More than $200 million raised to date
  • $29 million Series B extension

The source

Source Read the source at Inc42 Published

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