Motilal Oswal Financial Services purchased 3.5 lakh shares of Zelio E-Mobility, representing a 1.65 percent stake in the company. According to stock exchange data, the shares were acquired at ₹280 per share, taking the total value of the transaction to ₹9.8 crore. Following the transaction, Zelio E-Mobility had a market capitalisation of about ₹716 crore. The stock was trading at ₹338 per share during early market hours, reflecting a rise of around 10 percent.
IPO Details
Zelio E-Mobility raised ₹78.34 crore through its SME IPO. The public issue included a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares valued at ₹15.50 crore.
The IPO was subscribed 1.5 times overall, with participation from both institutional and retail investors. The company’s shares were listed on the BSE SME platform on October 8, 2025, opening at ₹154.90, which was 13.9 percent higher than the issue price.
Financial Performance
In its first reporting period after listing, the company reported consolidated revenue of ₹134.78 crore and a profit after tax of ₹11.87 crore for the first half of FY26. On a standalone basis, revenue increased 77 percent year-on-year to ₹133.3 crore, while profit after tax rose 69 percent compared to the same period last year.
For the full FY25 financial year, Zelio E-Mobility reported revenue of ₹172 crore, EBITDA of ₹21 crore, and profit after tax of ₹16 crore. The company reported a net worth of ₹26.67 crore during the same period.
Product Portfolio and Distribution
Zelio E-Mobility manufactures electric two-wheelers and three-wheelers. Its two-wheeler lineup includes models such as X Men, X Men 2.0, Gracy i, Gracy+, Gracy Pro, Little Gracy, Eeva, Eeva ZX+, Legender, Logix cargo scooter, and Mystery.
In the three-wheeler segment, the company sells e-rickshaw models under the Tanga brand, including Tanga Butterfly and Tanga Fine. The company operates through a dealer network of more than 350 outlets across over 20 states and union territories in India.
