Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Zelio E-Mobility Ltd. 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 ₹136.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000.00 (2,000 shares) (based on upper price). The minimum lot size investment for 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 Date | September 30, 2025 to October 3, 2025 |
| Listing Date | October 8, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹129 to ₹136 per share |
| Issue Price Final | ₹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 Hem Finlease Pvt.Ltd. (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 IPO offers total 57,60,000 shares. Out of which 27,32,000 (47.43%) allocated to QIB, 10,93,000 (18.98%) allocated to QIB (Ex- Anchor), 8,20,000 (14.24%) allocated to NII 19,14,000 (33.23%) allocated to RII and 16,39,000 (28.45%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,94,000 (5.10%) |
| QIB Shares Offered | 27,32,000 (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 (14.24%) |
| − bNII > ₹10L | 5,46,000 (9.48%) |
| − sNII < ₹10L | 2,74,000 (4.76%) |
| Retail Shares Offered | 19,14,000 (33.23%) |
| Total Shares Offered | 57,60,000 (100.00%) |
Zelio E-Mobility IPO raises ₹22.29 crore from anchor investors. Zelio E-Mobility IPO Anchor bid date is September 29, 2025. Zelio E-Mobility IPO Anchor Investors list
| Bid Date | September 29, 2025 |
| Shares Offered | 16,39,000 |
| Anchor Portion Size (In Cr.) | 22.29 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 5, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 4, 2026 |
Zelio E-Mobility IPO opens on September 30, 2025, and closes on October 3, 2025.
| 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 |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 |
| Market Capitalization | 287.64 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 9.68 | 7.57 |
| P/E (x) | 14.04 | 17.97 |
The Company Zelio E-Mobility IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] ZEL is primarily engaged in the business of manufacturing/assembling and supplying electric two and three wheeler. The company marked growth in its top and bottom lines for the reported periods. Boosted top and bottom lines for FY25 raise eyebrows and concern over its sustainability amidst rising competition. Based on its recent financial data, the issue appears greedily priced. Only well-informed/cash surplus/risk seeker may park moderate funds for medium term. Read detail review...
| Listing Date | October 8, 2025 |
| BSE Script Code | 544563 |
| NSE Symbol | |
| ISIN | INE1B3501014 |
| Final Issue Price | ₹136 per share |
| BSE Listing Group | MT (Trade to Trade) |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹136.00 |
| Open | ₹154.90 |
| Low | ₹154.90 |
| High | ₹162.60 |
| Last Trade | ₹162.60 |
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/
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 is a SME IPO of 57,60,000 equity shares of the face value of ₹10 aggregating up to ₹78.34 Crores. The issue is priced at ₹136 per share. The minimum order quantity is 1000.
The IPO opens on September 30, 2025, and closes on October 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 September 30, 2025 and closes on October 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 Tuesday, October 7, 2025. Check the Zelio E-Mobility IPO allotment status.
The Zelio E-Mobility IPO listing date is on Wednesday, October 8, 2025.
Useful Articles
RHP