Zelio E-Mobility Launches INR 78 Cr SME IPO to Fuel Expansion IPO Subscription Opens on 30th September and Closes on 3rd October
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Zelio E-Mobility, a rapidly growing electric two and three-wheeler manufacturer, has announced its INR 78 crore SME initial public offering, set to open for subscription on 30th September and close on 3rd October. The move highlights the company's ambition to expand its operations amid India's accelerating electric vehicle market.
In the financial year 2025, Zelio E-Mobility reported revenue of INR 172 crore, an EBITDA of INR 21 crore, and a net profit of INR 16 crore. The company's net worth stood at INR 26.67 crore, with return on equity and return on capital employed both at an impressive 59.96 percent. Between FY23 and FY25, the company delivered a revenue compound annual growth rate of 83 percent and a net profit CAGR of 128 per cent, reflecting a strong growth trajectory.
The IPO comprises a combination of a Fresh Issue and an Offer for Sale, totaling 57,60,000 equity shares of INR 10 each. Of these, 46,20,000 shares form the Fresh Issue to raise new capital, while 11,40,000 shares will be offered for sale.
Anchor investor allocation is scheduled for 29th September. The price band has been fixed between INR 129 and INR 136 per share, with a lot size of 2,000 shares, translating to a minimum application value of INR 2,58,000 to INR 2,72,000 per lot.
Kunal Arya, Managing Director of Zelio E-Mobility, said, "We are doubling our growth every year, but the market is growing even faster. With demand outpacing our capacity, this IPO comes at the right time to accelerate expansion and innovation. The proceeds will enable us to build world-class facilities, launch new models, strengthen after-sales support, and meet the rising expectations of our customers."
Hem Securities Ltd. has been appointed as the Book Running Lead Manager, while Maashitla Securities Pvt Ltd will serve as the Registrar. The company's promoters include Niraj Arya, Kunal Arya, and Deepak Arya.
Funds raised through the IPO will primarily be used for repayment and prepayment of borrowings, capital expenditure for a new manufacturing unit, working capital requirements, and general corporate purposes.
Founded in 2021 and headquartered in Haryana, Zelio E-Mobility operates over 300 dealers nationwide, offering sturdy, environmentally friendly e-scooters and supporting them with reliable customer service.
