Bookbuilding IPO | ₹78 Cr | Listed at BSE SME | Tue, Sep 30, 2025 - Fri, Oct 3, 2025
Zelio E-Mobility IPO is a book build issue of ₹78.34 crores. The issue is a combination of fresh issue of 0.46 crore shares aggregating to ₹62.83 crores and offer for sale of 0.11 crore shares aggregating to ₹15.50 crores.
Zelio E-Mobility IPO bidding started from Sep 30, 2025 and ended on Oct 3, 2025. The allotment for Zelio E-Mobility IPO was finalized on Oct 6, 2025. The shares got listed on BSE SME on Oct 8, 2025.
Zelio E-Mobility IPO price band is set at ₹136 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹4,08,000.
Hem Securities Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Zelio E-Mobility IPO RHP for detailed Information.
IPO Open
Tue, Sep 30, 2025
IPO Close
Fri, Oct 3, 2025
Issue Price
₹136 per share
Market Cap (Pre-IPO)
₹287.64 Cr
| IPO Date | 30 Sep to 3 Oct, 2025 |
| Listed on | Wed, Oct 8, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹129 to ₹136 |
| Issue Price | ₹136 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 57,60,000 shares (agg. up to ₹78 Cr) |
| Reserved for Market Maker | 2,94,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 43,26,000 shares (agg. up to ₹59 Cr) |
| Offer for Sale | 11,40,000 shares of ₹10 (agg. up to ₹16 Cr) |
| Net Offered to Public | 54,66,000 shares (agg. up to ₹74 Cr) |
| Share Holding Pre Issue | 1,65,30,000 shares |
| Share Holding Post Issue | 2,11,50,000 shares |
| BSE Script Code | 544563 |
| ISIN | INE1B3501014 |
Zelio E-Mobility IPO comprises a total issue size of 57,60,000 shares. The net offer to the public is 54,66,000 shares, after excluding 2,94,000 shares allotted on a firm basis. Of the Net offer 27,32,000 (49.98%) are allocated to QIB, 8,20,000 (15.00%) allocated to NII 19,14,000 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 27,32,000 | 49.98% | 47.43% |
| − Anchor Investor Shares Offered | 16,39,000 | 28.45% | |
| − QIB (Ex. Anchor) Shares Offered | 10,93,000 | 18.98% | |
| NII (HNI) Shares Offered | 8,20,000 | 15.00% | 14.24% |
| − bNII > ₹10L | 5,46,000 | 9.48% | |
| − sNII < ₹10L | 2,74,000 | 4.76% | |
| Retail Shares Offered | 19,14,000 | 35.02% | 33.23% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,94,000 | 5.10% | |
| Total Shares Offered | 57,60,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| 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 IPO raises ₹22.29 crore from anchor investors. Zelio E-Mobility IPO Anchor bid date is September 29, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 29, 2025 |
| Shares Offered | 16,39,000 |
| Anchor Portion (₹ Cr.) | 22.29 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Nov 5, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jan 4, 2026 |
Incorporated in 2021, Zelio E-Mobility Limited is engaged in manufacturing, assembling and supplying of electric vehicles like two-wheelers and three-wheelers.
The company, operating under the brands "Zelio" (E-2Ws) and "Tanga" (3Ws), focuses on producing eco-friendly electric vehicles with lower emissions, reduced noise, and energy sustainability, supported by a wide dealer network.
The company operates from a 24,458.01 sq. meter facility in Ladwa, Haryana, with an annual production capacity of 72,000 electric two-wheelers and three-wheelers, using advanced machinery for manufacturing and assembly.
Product Portfolio:
The product portfolio comprises of various electric 2- wheelers and 3- wheelers are EEVA, EEVAZX,GRACY, Legender, Mystery, XMen.
As on August 31, 2025, our company has employed around 193 employees, excluding the board of directors at various levels of the organisation.
Competitive Strengths:
Zelio E-Mobility Ltd.'s revenue increased by 83% and profit after tax (PAT) rose by 154% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 65.79 | 29.08 | 15.47 |
| Total Income | 173.80 | 94.90 | 51.62 |
| Profit After Tax | 16.01 | 6.31 | 3.06 |
| EBITDA | 21.02 | 8.76 | 4.02 |
| NET Worth | 26.67 | 10.67 | 4.36 |
| Reserves and Surplus | 10.14 | 10.64 | 4.33 |
| Total Borrowing | 30.68 | 14.11 | 9.59 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/or pre-payment, in full or part, of borrowing availed by the Company | 20.00 |
| 2 | Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit | 19.45 |
| 3 | To Meet Working Capital Requirement | 8.00 |
| 4 | General Corporate Purpose | 9.09 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 85.75% |
| ROCE | 36.86% |
| Debt/Equity | 1.32 |
| RoNW | 60.02% |
| PAT Margin | 9.30% |
| EBITDA Margin | 12.21% |
| Price to Book Value | 21.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.68 | 7.57 |
| P/E (x) | 14.04 | 17.97 |
| Promoter Holding | 100% | 75.77% |
| Market Cap | ₹287.64 Cr. |
The Zelio E-Mobility IPO is subscribed 1.50 times on October 3, 2025 5:04:50 PM (Day 3). The public issue subscribed 1.32 times in the individual investors category, 1.61 times in the QIB category, and 1.76 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.61 | 10,93,000 | 17,56,000 | 0 |
| NII* | 1.76 | 8,20,000 | 14,41,000 | 0 |
| bNII (bids above ₹10L) | 2.31 | 5,46,000 | 12,62,000 | |
| sNII (bids below ₹10L) | 0.65 | 2,74,000 | 1,79,000 | |
| Individual Investor | 1.32 | 19,14,000 | 25,30,000 | 0 |
| Total | 1.50 | 38,27,000 | 57,27,000 | 1,352 |
Total Application : 1,352
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM (inclusive underwriting commission) | 3.92 |
| 2 | Fees Payable to the Registrar to the Offer | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.05 |
| 4 | Fees Payable to the Regulators including Stock Exchanges | 0.14 |
| 5 | Payment for Printing & Stationery, Postage, etc | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.03 |
| 7 | Others, if any (Fees payable for Marketing & distribution expenses, Sponsor Bank/Banker(s) to the Offer, Selling Commission, Brokerage, depositories, Depository Participant, Monitoring Agency, Peer Review Auditors, Processing Fees* and Miscellaneous Expenses). | 3.67 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹136.00 |
| Open | ₹154.90 |
| Low | ₹154.90 |
| High | ₹162.60 |
| Last Trade | ₹162.60 |
Lead Manager Reports
Zelio E-Mobility IPO is a SME IPO of 57,60,000 equity shares of the face value of ₹10 aggregating up to ₹78 Crores. The issue is priced at ₹136 per share. The minimum order quantity is 1000.
The IPO opens on Tue, Sep 30, 2025, and closes on Fri, Oct 3, 2025.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Zelio E-Mobility IPO using UPI as a payment gateway. Zerodha customers can apply in Zelio E-Mobility IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Zelio E-Mobility IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Zelio E-Mobility IPO opens on Tue, Sep 30, 2025 and closes on Fri, Oct 3, 2025.
Zelio E-Mobility IPO lot size is 1000, and the minimum amount required for application is ₹2,72,000, with 2 lots being the minimum application size.
You can apply in Zelio E-Mobility IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Zelio E-Mobility IPO will be done on Monday, October 6, 2025, and the allotted shares will be credited to your demat account by Tue, Oct 7, 2025. Check the Zelio E-Mobility IPO allotment status.
The Zelio E-Mobility IPO listing date is on Wed, Oct 8, 2025.
