Aiming to expand capacity, with new models and growth, Zelio E-Mobility powers ahead with a ₹780 million SME IPO, riding India’s EV wave.
EV maker Zelio E-Mobility has announced a ₹780 million SME initial public offering (IPO). The issue will open on 30 September and close on 3 October 2025, with anchor investor allocation on 29 September.
Zelio mainly manufactures electric two-wheelers and three-wheelers.
The IPO will offer 5.76 million equity shares of ₹10 each, including a fresh issue of 4.62 million shares and an offer for sale of 1.14 million shares. The price band has been fixed at ₹129–₹136 per share, with investors required to apply for a minimum lot of 2000 shares, translating to ₹25.8–₹27.2 million per lot.
The company revealed that Hem Securities is the book-running lead manager, while Maashitla Securities will act as registrar. Proceeds will be used for debt repayment, capital expenditure on a new manufacturing facility, working capital, and other corporate needs.
Meanwhile, the company has posted strong results consistently. In FY25, it recorded revenue of ₹1.72 billion, EBITDA of ₹210 million, and net profit of ₹160 million. Return on equity and capital employed stood at nearly 60%. Revenue grew at a CAGR of 83% and profit at 128% between FY23 and FY25.
“We are doubling our growth every year, but the market is growing even faster,” said Kunal Arya, Managing Director of Zelio E-Mobility. “With demand outpacing our capacity, this IPO comes at the right time to accelerate expansion and innovation.”
He added, “The funds will help us build world-class facilities, launch new models, strengthen after-sales service, and meet rising customer expectations.”
Founded in 2021 and headquartered in Haryana, Zelio has built a network of over 300 dealers across India. The company’s promoters are Niraj Arya, Kunal Arya, and Deepak Arya.
