Revolt Eyes Pre-IPO Funding, Plans New R&D Center in South India

Revolt Motors is planning to raise money from private investors this year before it goes public with an Initial Public Offering (IPO) as the company looks to fuel its growth strategy with more products and a new research and development center.

Revolt was founded by Micromax co-founder Rahul Sharma in 2017 and was fully acquired by RattanIndia Enterprises in 2022. As an early entrant in the electric motorcycle space, where there are fewer players, Revolt is the top-selling brand with approximately 10,000 units sold in 2024.

The company wants some investors in place before deciding to go for an IPO, like a pre-IPO as a strategic investment, Anjali Rattan, the chairperson of the parent company, told Autocar Professional on Tuesday. 

“We would try a pre-IPO round and then an IPO. The whole journey right now is to take the monthly selling number from 2,000 units to 5,000, and then go for an investment, followed by an IPO.”

Revolt plans to secure funding from private investors this year, with a potential IPO next year. However, they have not determined the exact amount of money they plan to raise in this pre-IPO round. RattanIndia has invested close to Rs 500 crore in Revolt after acquiring the company.

The company has a portfolio of three models - RV400, RV1 and newly launched RV BlazeX. To maintain its dominant position in the electric motorcycle segment that is set to get more competitive with traditional and major electric scooter makers planning to enter, Revolt plans to launch two models every year: one entirely new and one refreshed version.

While it retailed 10,018 units in this financial year, Revolt aims to close the ongoing financial year with sales of around 14,000 units. For the financial year 2026, Rattan is projecting the sales to multiply to 40,000 units.

Revolt currently has an R&D center in Manesar, but it plans to open a new R&D center in the southern part of India. “My plan is to have an R&D center in South India because there you get a good talent. We have started working towards that,” Rattan said.

She believes the company should focus and spend more on R&D for more products and the right kind of technologies. Strong products, backed by good technologies, can achieve significant growth even with limited marketing, Rattan added.