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Zelio E-Mobility Ltd. IPO
Zelio E-Mobility IPO is a book-built issue worth ₹78.34 crore. The IPO comprises a fresh issue of 0.46 crore shares and an offer for sale of 0.11 crore shares. The price band is set at ₹129 to ₹136 per share, and the lot size is 1,000 shares. For retail investors, the minimum investment required is ₹2,72,000 (2,000 shares). The IPO opens on September 30, 2025, and closes on October 3, 2025. The tentative listing date is October 8, 2025, on the BSE SME platform.
Company Background
Zelio E-Mobility Ltd., established in 2021, is an ISO-certified Indian electric two-wheeler and three-wheeler manufacturer. The company’s manufacturing facility is located in Ladwa, Haryana, with an annual production capacity of 72,000 units. Its product portfolio includes Electric Scooters (E-2Ws) under the brand name ‘Zelio’ and Tanga E-Rickshaws (3Ws) under the brand name ‘Tanga’. Zelio E-Mobility has developed a strong distribution network with over 280 dealers across more than 20 states and union territories in India.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Zelio E-Mobility Ltd. IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Zelio E-Mobility Ltd. IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 30, 2025 to October 3, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹129 to ₹136 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 57,60,000 shares (aggregating up to ₹78.34 Cr) |
| Reserved for Market Maker | 2,94,000 shares (aggregating up to ₹4.00 Cr) |
| Fresh Issue (Ex Market Maker) | 43,26,000 shares (aggregating up to ₹58.83 Cr) |
| Offer for Sale | 11,40,000 shares of ₹10 (aggregating up to ₹15.50 Cr) |
| Net Offered to Public | 54,66,000 shares (aggregating up to ₹74.34 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,65,30,000 shares |
| Share Holding Post Issue | 2,11,50,000 shares |
Zelio E-Mobility Ltd. IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Sep 30, 2025 |
| IPO Close Date | Fri, Oct 3, 2025 |
| Tentative Allotment | Mon, Oct 6, 2025 |
| Initiation of Refunds | Tue, Oct 7, 2025 |
| Credit of Shares to Demat | Tue, Oct 7, 2025 |
| Tentative Listing Date | Wed, Oct 8, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 3, 2025 |
Zelio E-Mobility Ltd. IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,72,000 |
| Individual investors (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 |
Zelio E-Mobility Ltd. IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 100.00% |
| Promoter Holding Post Issue | 75.77% |
Competitive Strength:
- • Strong track record of financial success with a record of 83.29% compound annual growth rate in revenue.
- • The company has established a broad dealer network that covers major parts of India, which secures sales growth and market penetration.
Zelio E-Mobility Ltd. IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2024 | 53.89 | 76.04 | 7.05 | 17.71 | - | 21.97 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 29.08 | 94.9 | 6.31 | 10.67 | - | 14.11 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 15.47 | 51.62 | 3.06 | 4.36 | - | 9.59 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 8.57 | 13.03 | 1.27 | 1.3 | - | 3.73 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
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 (Rs) | 3.82 | 6.66 |
| P/E (x) | 35.63 | 20.41 |
Conclusion
The Zelio E-Mobility IPO provides an opportunity for investors to participate in the rapidly growing electric vehicle sector in India. With strong revenue growth, a clear expansion roadmap, and ambitions to be among the top 10 EV manufacturers in the country, the company demonstrates promising prospects. The IPO proceeds are expected to further strengthen operations and fuel growth, making it a notable consideration for investors looking at the EV space.
DRHP:
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