Zelio E-Mobility Limited is engaged in the manufacturing, assembling, and supply of electric two-wheelers and three-wheelers, offering eco-friendly alternatives to conventional vehicles. Operating under the brands “Zelio” (E-2Ws) and “Tanga” (3Ws), the company focuses on reducing emissions, minimizing noise, and promoting sustainable mobility solutions.
The company’s manufacturing facility in Ladwa, Haryana, spans 24,458 sq. meters with an annual production capacity of 72,000 vehicles. Equipped with advanced machinery, the plant supports efficient manufacturing and assembly operations.
The company’s Product Portfolio includes a range of electric two-wheelers and three-wheelers such as EEVA, EEVAZX, Gracy, Legender, Mystery, and XMen, designed to cater to diverse customer needs.
As of February 28, 2025, Zelio employs around 176 people, working across production, R&D, sales, and support functions, backed by a wide dealer network that strengthens its market presence.
Zelio E-Mobility IPO – Details
| IPO Opening Date | 30 September 2025 |
| IPO Closing Date | 03 October 2025 |
| Issue Type | Bookbuilding IPO |
| Issue Size | Total Issue: 57,60,000 Shares Worth ₹78.34 Crore Fresh Issue: 46,20,000 Shares Worth ₹62.82 Crore Offer For Sale: 11,40,000 Shares Worth ₹15.50 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹129 to ₹136 per share |
| Market Lot | 1000 Shares |
| Min Order | 1000 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Maashitla Securities Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Zelio E-Mobility IPO – Date Schedule
| IPO Open Date | 30 September 2025 |
| IPO Close Date | 03 October 2025 |
| Basis of Allotment | 06 October 2025 |
| Initiation of Refund | 07 October 2025 |
| Credit of Shares to Demat | 07 October 2025 |
| IPO Listing Date | 08 October 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 03, 2025 |
Zelio E-Mobility IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,72,000 |
| Retail (Max) | 2 | 2,000 | ₹2,72,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,08,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,52,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,88,000 |
Competitive Strength
- Extensive network of dealers covering major parts of India.
- Quality Assurance ensuring standardized product quality.
- Revenue derived from a geographically dispersed customer base.
- Proven track record of Financial Success.
- Experienced Promoters with senior management backed by marketing team.
Company Promoters
- Niraj Arya
- Kunal Arya
- Deepak Arya
- Sayuri Arya
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹51.62 Cr | ₹47.93 Cr | ₹3.06 Cr | ₹9.59 Cr |
| 31 March 2024 | ₹94.90 Cr | ₹87.28 Cr | ₹6.31 Cr | ₹14.11 Cr |
| 31 March 2025 | ₹173.80 Cr | ₹154.41 Cr | ₹16.01 Cr | ₹30.68 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 83.99% |
| ROCE | 34.84% |
| Debt/Equity | 1.32 |
| RoNW | 59.15% |
| PAT Margin | 6.68% |
| Price to Book Value | 21.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.82 | 6.66 |
| P/E (x) | 35.63 | 20.41 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Repayment and/or pre-payment, in full or part, of borrowing availed by the Company. | ₹24.50 |
| Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit. | ₹23.89 |
| To Meet Working Capital Requirement. | – |
| General Corporate Purposes. | – |
✅Strengths
- Wide EV product range under “Zelio” (2Ws) and “Tanga” (3Ws).
- Eco-friendly, sustainable vehicles aligned with government EV push.
- 72,000 annual production capacity at Haryana facility.
- ISO-certified processes and quality standards.
- Strong dealer network across regions.
⚠️Risks
- Intense competition in EV market.
- Seasonal fluctuations in demand.
- Dependence on suppliers for key parts.
- High borrowings increase financial risk.
- Warranty and quality-related liabilities.
- Reliance on government incentives, with limited track record.
Zelio E-Mobility IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 75.77% |
Zelio E-Mobility IPO Prospectus
Company Contact Information
| Zelio E-Mobility Ltd. Shop No. 542, 1st Floor, Auto Market, Hisar, Haryana, 125001 Phone: +91 9254993057 Email: cs@zelioebikes.com Website: http://www.zelioebikes.com/ |
Zelio E-Mobility IPO Registrar
| Maashitla Securities Pvt.Ltd. Phone: +91-11-45121795-96 Email: ipo@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
Zelio E-Mobility IPO Lead Manager(s)
| 1. Hem Securities Ltd. |
Zelio E-Mobility IPO FAQ
| What is Zelio E-Mobility IPO? Zelio E-Mobility IPO is an SME IPO. The issue is priced at ₹129 to ₹136 per equity share. The IPO is to be listed on BSE SME. |
| When Zelio E-Mobility IPO will open? The IPO is to open on 30 September 2025 for QIB, NII, and Retail Investors. |
| What is Zelio E-Mobility IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Zelio E-Mobility IPO Size? Zelio E-Mobility IPO size is ₹78.34 Crore. |
| What is Zelio E-Mobility IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 2,000 Shares with ₹2,72,000 amount, while the maximum bid is 2,000 Shares with ₹2,72,000. |
| What is the Zelio E-Mobility IPO Allotment Date? Zelio E-Mobility IPO allotment date is 06 October 2025. |
| What is the Zelio E-Mobility IPO Listing Date? Zelio E-Mobility IPO listing date is 08 October 2025. The IPO is to be listed on the BSE SME. |
