Ultraviolette plans public issue in FY28

Joining the group of electric two-wheeler manufacturers tapping the capital markets, Bengaluru-based Ultraviolette on Tuesday said it was planning an initial public offering (IPO) by financial year 2028.

- SHINE JACOB

The company launched the X-47 Crossover, held to be the world’s first commercially available motorcycle to feature an integrated radar and camera-safety system as standard, priced at around ₹2.49 lakh (ex-showroom).

Deliveries of the vehicle will commence in October this year, Ultraviolette is backed by investors like TVS Motor Company, Zoho Corporation, Lingotto, and Speciale Invest.

In an interaction with Business Standard, Niraj Rajmohan, chief technology officer and cofounder, said the focus was on scaling up its business in a sustainable manner.