COMPANY INTELLIGENCE PROFILE
EC WHEELS INDIA PRIVATE LIMITED
EC Wheels India Pvt Ltd operates the "Snap-E Cabs" brand, a 100% electric-vehicle ride-hailing/cab service headquartered in Kolkata (New Town), expanding into Delhi NCR.
EC Wheels India Pvt Ltd, incorporated on February 26, 2022, operates under the "Snap-E Cabs" brand, providing a 100% electric-vehicle ride-hailing service. Based in Kolkata, with expansion into Delhi NCR, the company positions itself as an eco-friendly public transport service, boasting app-based bookings and a significant reduction in carbon footprint. The company has ordered 1,000 EVs from Tata Motors and secured an agreement with HPCL for charging infrastructure. It reports substantial revenue growth but lacks independent credit ratings. EC Wheels is a subsidiary of Steelman Telecom Limited.
AI-generated, may contain errors.
Business Overview
- EC Wheels India Pvt Ltd operates the "Snap-E Cabs" brand, a 100% electric-vehicle ride-hailing/cab service headquartered in Kolkata (New Town), expanding into Delhi NCR.
- It positions itself as an eco-friendly public electric transport service with app-based booking, Android/iOS, 5L+ downloads on Play Store, AIS-140 GPS tracking with SOS, and verified drivers, claiming ~80% lower carbon footprint vs conventional cabs.
- It sources EVs from Tata Motors, an order for 1,000 Xpres-T EVs was placed around Oct 2022, and has partnered with HPCL for EV charging access and reportedly with Rapido for its Delhi NCR market entry.
- It is a subsidiary of BSE-listed Steelman Telecom Limited, formerly a telecom company diversifying into EV mobility., Sources: snapecabs.com, EVreporter/Indian Startup Times funding coverage, Instagram/HPCL partnership post, Facebook/Tata Motors trade posts — partial/mixed-source corroboration on partnership specifics
Sector & Classification
NIC U74999 — "Other Business Activities" / classified by Tofler under "Land Transport via Road"; operationally an EV ride-hailing (cab aggregation) business
Directors & Key Management
Directors — source notes
Mahendra Bindal (DIN 00484964) and Mayank Bindal (DIN 02185797), both listed as director/shareholder, ~4 years tenure (Source: Tofler, TheCompanyCheck — 2 sources agree, confirmed). A ZaubaCorp search snippet also references a Steelman Telecom Limited-linked CFO KMP appointment (2023-02-14) — single source, not independently corroborated, treat as partial/unconfirmed.
GST Registrations
Primary GSTIN: 19AAGCE9184N1ZR, West Bengal (home state), address matches registered office (Rishi Tower, Premises No. 02-315, New Town, WB 700156); PAN component AAGCE9184N matches confirmed company PAN (Source: KnowYourGST search result — single source but PAN cross-checks against Tofler/TheCompanyCheck PAN, so treated as confirmed). Registration status not explicitly re-verified on a live GSTIN status page — presumed Active given company's Active corporate status; not independently confirmed. Number of total GST registrations across states (e.g. possible Delhi/NCT registration given Delhi NCR ride-hailing expansion) not obtained. NOTE (entity-confusion avoided): search results also surfaced GSTIN 33AABCU7650C1ZM (Vakilsearch, Chennai) and GSTIN 33AAKFE5514B1ZY for "E WHEELS" (Masters India, Tamil Nadu) — both have different PAN prefixes and belong to unrelated entities; excluded from this profile.
Financials
EC Wheels India Private Limited achieved an operating revenue of between ₹25-50 crore in FY2023-24, with a remarkable 792.32% YoY growth. The book net worth increased by 1,354.79% while borrowings decreased by 11.21%.
AI-generated, may contain errors.
| FY2023-24 (standalone), per Tofler, single source — partial confidence, some figures paywalled/range-only: Operating revenue in the ₹25–50 crore band, with reported YoY revenue growth of 792.32% (rapid scale-up). | |
| EBITDA and PAT | not obtained, subscription-restricted. |
| Net worth | absolute figure not obtained |
| Book net worth reported up | 1,354.79% YoY. Borrowings: absolute figure not obtained |
| Total borrowings reported down | 11.21% YoY. Consolidated financials also referenced as available on Tofler but restricted. No independent second source corroborated the exact percentages — treat as partial/unconfirmed pending a primary filing. |
Funding History
- (1) February 2024: USD 2.5 million (~INR 22 crore) Pre-Series A round led by Inflection Point Ventures (IPV) — confirmed via multiple sources, ET EnergyWorld, Autocar Professional, EVreporter, ThePrint
- Funds earmarked for talent acquisition, technology, and Delhi NCR market entry, including a Rapido partnership, fleet expansion of 300–400 EVs by FY24. (2) September 2025: a further USD 2.5 million "bridge" round, also led by IPV, with participation from ah!
- Ventures and angel investors, Shish Kharesiya, Praveen Chand, Jaspreet Kaur, — confirmed via Indian Startup Times/Energetica India
- Funds for product innovation, leasing more EVs, and deepening Delhi NCR presence.
- Separately, parent Steelman Telecom Limited (STL) has made repeated intra-group equity infusions into EC Wheels via preferential allotments / conversion of loans to equity, disclosed across multiple STL BSE filings, 2022–2025, — this is promoter capital, distinct from the external VC rounds above.
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| multiple secured bank credit facilities totaling roughly | ₹50 | |
| ICICI Bank | ~₹17.8 cr | 5 charges/loans |
| HDFC Bank | ~₹14.7 cr | 34 charges |
| State Bank of India | ~₹9 | |
| Axis Bank | ~₹4 |
- Per Tofler, single source, partial confidence: 7 crore — likely vehicle/fleet financing loans, 9 cr (1 loan), 9 cr (1 loan)
- Not cross-verified against a second source (e.g.
- MCA charge index was out of scope per source rules)
- Treat as indicative, not final.
Credit Ratings
- No independent CRISIL/ICRA/CARE rating was found for EC Wheels India Pvt Ltd itself.
- CRISIL has rated the PARENT, Steelman Telecom Limited, rating document dated ~18 Feb 2026, whose rationale cites "risk related to investment in subsidiary: EC Wheels... weak financial risk profile", i.e., EC Wheels' fleet debt is a rating factor FOR THE PARENT, not a rating of EC Wheels.
- Per source rules on entity confusion, this rating is NOT attributed to EC Wheels — status "none" for this entity directly.
Legal & Compliance
- EC Wheels India Private Limited vs Shriram General Insurance Company Limited — a commercial dispute at Calcutta High Court, Commercial Division, Case No.
- AP-COM/190/2025, before Justice Shampa Sarkar, with order-sheet activity across March–May 2025, Source: Indian Kanoon.
- EC Wheels also appears incidentally, as a cited precedent, not a party, in an unrelated Bombay High Court judgment, United India Insurance Co.
- Ltd vs UPL Ltd (22 April 2026).
- No other litigation found.
Competitive Landscape
- EV ride-hailing / EV mobility peers: (1) BluSmart — Delhi-NCR/Bengaluru EV ride-hailing, much larger scale, well-funded, VC + green bonds
- (2) EVera Cabs — Delhi NCR EV ride-hailing/leasing, comparable early-stage scale
- (3) Lithium Urban Technologies — pan-India corporate EV mobility, larger/more established scale
- (4) Ola — mainstream ride-hailing major expanding an EV fleet segment, vastly larger scale
- (5) Rapido — ride-hailing aggregator that is actually a stated PARTNER, not a pure competitor, for EC Wheels' Delhi NCR entry, flagged for clarity rather than as a rival. Scale tags are directional, not sourced from a single ranking.
Frequently Asked Questions
What does EC Wheels India Pvt Ltd do?
EC Wheels India Pvt Ltd operates the 'Snap-E Cabs' brand, which is a 100% electric-vehicle ride-hailing service headquartered in Kolkata and expanding into Delhi NCR.
What is the Corporate Identification Number (CIN) of EC Wheels India Pvt Ltd?
The CIN of EC Wheels India Pvt Ltd is U74999WB2022PTC251914.
What is the GSTIN of EC Wheels India Pvt Ltd?
The primary GSTIN of EC Wheels India Pvt Ltd is 19AAGCE9184N1ZR, registered in West Bengal.
When was EC Wheels India Pvt Ltd incorporated?
EC Wheels India Pvt Ltd was incorporated on 26 February 2022.
What is the registered office address of EC Wheels India Pvt Ltd?
The registered office of EC Wheels India Pvt Ltd is located at Rishi Tower, 1st Floor, A-1, Premises No. 02-315, Street No. 315, New Town, Kolkata, West Bengal 700156.
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.