The ₹100-crore infusion comes as OSM evaluates a move to the public markets.
Faridabad-based electric commercial vehicle maker Omega Seiki Mobility has raised ₹100 crore in two back-to-back funding rounds in less than 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 and included the Sanjeev Agarwal and Brijesh Parekh family offices and other investors.
It followed another ₹50-crore round in late July involving Securocorp Securities, the Saket Aggarwal Family Office, Sangeeta Pareekh and Vanshika Sharma.
The rapid fund-raise brings a fresh set of outside investors into a company that has largely been backed by founder and chairman Uday Narang and the Anglian Omega Group. The promoter group holds about 73 per cent of OSM, giving it substantial headroom to raise external equity while retaining control.
IPO calculus
The ₹100-crore infusion comes as OSM evaluates a move to the public markets. The company has not disclosed an IPO size, valuation, timing or structure.
Market experts and analysts tracking the sector, however, estimate OSM could eventually look at a ₹400–500 crore public issue, depending on its capital requirements, valuation and market conditions.
Sector estimates suggest an issue of that size could comprise about ₹300–350 crore of fresh shares and an offer for sale of ₹100–150 crore. Fresh capital could go towards expanding manufacturing at Faridabad and Pune, developing electric light commercial vehicles and reducing debt, while an OFS could provide partial liquidity to existing shareholders.
Market experts estimate dilution in a potential listing could be around 26–30 per cent, depending on the final valuation and issue structure.
OSM has said only that it is “evaluating its path toward the public markets”. Narang had previously spoken about raising ₹400–500 crore to finance the company’s growth.
Valuation test
For investors, the harder question could be what price to put on that growth.
Pre-IPO research and estimates cited by market experts tracking the sector place OSM’s indicative valuation in a broad ₹1,775–2,833 crore range. Against FY26 revenue of about ₹333 crore, that implies a price-to-sales multiple of roughly 5.3–8.5 times.
OSM reported 13 per cent revenue growth in FY26, profit after tax of ₹7.3 crore and an EBITDA margin of 7.7 per cent. That profitability could help distinguish it from several loss-making EV start-ups, though the upper end of the estimated valuation range would require investors to price in substantial future growth.
OSM’s focus on commercial EVs also gives it a different proposition from consumer-focused electric two-wheeler makers. Fleet vehicles typically clock high utilisation, making uptime, operating costs and total cost of ownership critical to purchasing decisions. OSM counts Amazon, Flipkart, Zomato, BigBasket, Porter, Maersk and Nestlé among its customers.
The company plans to use the latest funding to expand manufacturing and R&D and increase its dealer and service network to 250 touchpoints by FY28 from about 150 currently.
“The confidence shown by our investors strongly validates our vision, execution capabilities and long-term strategy,” Narang said.
Published on August 23, 2026
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