1. NSE listing unlocks equity currency - Mercury EV-Tech listed on the NSE on 2 June 2026, with 189.97 crore shares admitted to trading under symbol MERCURYEV. A listed stock gives the company acquisition currency and access to institutional capital at a scale its earlier private form could not support.
2. 3.2 GW Vadodara battery plant nears pilot production - Equipment for the fully robotic lithium-ion line was expected at the Vadodara campus by end-May 2025, with pilot production set for mid-June 2025. Moving from EV trading into own battery manufacturing adds a higher-margin, multi-chemistry capability that can serve BESS, grid storage, and EV charging demand.
3. ₹84.9 crore warrant forfeiture strengthens the balance sheet - 4.53 crore warrants lapsed in May 2026, allowing the company to forfeit the ₹84.94 crore upfront subscription already received. The cash inflow carries no dilution and arrives just as the battery plant capex cycle peaks.
4. Merger with EV Nest consolidates early-stage EV assets - The NCLT approved the merger of EV Nest Private Limited into Mercury EV-Tech on 18 September 2025, with an appointed date of 1 April 2023. Consolidation simplifies the corporate structure and brings any accumulated EV Nest assets and contracts onto one listed entity.
5. DC2 Mercury Cars targets the premium EV segment - Mercury acquired a 69.84% stake in DC2 Mercury Cars on 1 January 2025, blending its EV engineering with DC’s automotive design to target premium, customised EVs and possible exports. A premium brand opens a higher-realisation channel beyond the utility-vehicle base.
6. MUSHAK EV 4W goods carrier receives perpetual approval - ICAT granted approval for the MUSHAK EV, a battery-operated N1-category goods carrier with 2,085 kg GVW, valid in perpetuity. A certified commercial vehicle allows the company to address last-mile cargo demand without recurring homologation risk.
7. Showroom network expands across Gujarat - Five showrooms opened between July 2025 and June 2026, including a signature location on the Vadodara-Mumbai NH-48. A growing retail footprint in its home state shortens the path to consumer sales and service touchpoints.