Bolt.Earth eyes profitability next year; IPO to follow

CEO of India’s largest EV charging network says it would be first such firm to turn profitable; expects revenue to grow fourfold in FY27

- SOHINI DAS

India’s largest electric vehicle (EV) charging network Bolt.Earth, which enjoys a 63 per cent share of the country’s public charging market, expects to turn profitable in 2026-27 (FY27), followed by an IPO over the next few months amid rising EV adoption in Tier-II and Tier-III cities.

“It would be the first EV charging network provider to turn profitable,” claimed CEO S Raghav Bharadwaj.

Having deployed over 100,000 chargers across 1,800 cities and towns (including Lakshadweep), the company aims to deploy 1 million chargers annually by 2028 as it enters its next stage of growth.

“We expect to turn profitable by mid next year, and that gives us a clear line of sight to start preparing for an IPO. Both we and our investors see a potential listing around 2027 or early 2028. Globally, there are already public EV charging companies, and I see India heading in the same direction as EV adoption scales,” Bharadwaj said.