In a significant stride towards bolstering India’s electric vehicle (EV) charging infrastructure, Servotech EV Infra Pvt Ltd, a subsidiary of the esteemed Servotech Power Systems Ltd., has unveiled its ambitious growth plans. The company proudly announces a strategic equity dilution of 6% at a pre-money valuation of ₹200 crore, marking a pivotal moment in its journey.
This infusion of capital is poised to propel Servotech EV Infra into its initial phase of expansion, solidifying its commitment to advancing India’s EV charging infrastructure. With this financial boost, the company aims to establish Proof of Concept (POC) sites at 10 strategic locations in North India within the next 100 days. Each EV charging station is anticipated to cost between ₹15 to 25 lakhs, depending on charger capacity and installation requirements.
To lead this ambitious endeavour, Servotech EV Infra welcomes two seasoned executives to its leadership team. Prem Prakash assumes the role of Chief Executive Officer (CEO), bringing with him a wealth of experience garnered over 22 years across various industries including Consumer Durables, FMCG, Media & Entertainment, E-Commerce, and Fintech. Prakash’s illustrious career includes notable stints at esteemed organisations such as Ramco Group, IMC-Business Global – Europe, and Bharat Matrimony, positioning him as a driving force for Servotech EV Infra’s future success.
Joining Prakash is Neeraj Gupta, appointed as AVP Operations. Gupta boasts an impressive 24-year career spanning EV Charging, Telecom services, Hospitality, and BPOs. His extensive expertise, garnered from roles at prominent companies including Bharti Airtel and HCL Technologies, equips him to lead all operational aspects of Servotech EV Infra effectively.
Raman Bhatia, Founder and Managing Director of Servotech Power Systems Ltd., expressed enthusiasm about the strategic equity dilution, emphasising its significance in fuelling the company’s growth trajectory. Bhatia underscored the pivotal role Servotech EV Infra plays in accelerating India’s EV charging infrastructure development, highlighting the confidence investors have in the company’s vision.
Bhatia further extolled the appointment of Prem Prakash and Neeraj Gupta, citing their extensive experience and visionary leadership as invaluable assets to Servotech EV Infra’s mission and goals. He expressed confidence in their ability to navigate the evolving landscape of electric vehicle charging infrastructure, positioning the company for continued innovation and success.
