Business EconomyPosted at: Sep 22 2026 1:56PM


BikeWo targets 10,000-vehicle fleet in FY27 with ₹76 cr preferential issue

Hyderabad, Sept 22 (UNI) BikeWo Green Tech Ltd is targeting a fleet of around 10,000 vehicles during 2026-27, supported by a preferential issue through warrants worth more than ₹76 crore, as the company expands beyond electric vehicle sales and distribution into fleet ownership, leasing and specialised mobility services.
The expansion, termed "BikeWo Ascend", will cover EV asset ownership and leasing, fleet deployment, specialised mobility applications, operating partnerships, lifecycle support and technology-enabled logistics, the Hyderabad based company said in a release on Tuesday.
As part of the expansion, BikeWo has entered into an engagement with Reliance Industries Ltd's Bio Energy Division for the hiring and deployment of specialised electric tractors.
The contracts have an estimated aggregate value of around ₹66.46 crore and are valid until July 2033.
The electric tractors will be deployed with specialised loader, catcher and grabber applications, along with driver and vehicle-operation services, the company said.
BikeWo said the deployment would extend electric mobility into bio-energy and biomass-handling operations.
The company's expansion plans cover last-mile, mid-mile and long-distance transportation, enterprise mobility, specialised fleet applications and related mobility infrastructure.
BikeWo has also appointed Sumanth Badiga to its Advisory Board.
CEO Hiten Pal Saklani said the company was seeking to build a larger business around electric mobility by expanding into infrastructure, operations and technology supporting EV deployment.
BikeWo began operations as a multi-brand electric two-wheeler retailer in Telangana in 2016 and expanded into fleet operations in 2025.
It was listed on NSE Emerge in September 2024 after raising ₹24.09 crore.
For the financial year ended March 2026, the company reported consolidated revenue of ₹54.49 crore, a 132 per cent increase, while net profit rose to ₹4.50 crore from ₹0.88 crore.
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