Zelio E-Mobility receives SEBI nod for Rs.78 crore IPO for EVs
Zelio E-Mobility receives SEBI nod for Rs.78 crore IPO for EVs
The proceeds will support the company's growth plans
Electric vehicle maker Zelio E-Mobility Ltd has announced receiving approval from the Securities and Exchange Board of India (SEBI) for its SME IPO to raise Rs.78 crore.
The company received the DRHP (draft red herring prospectus) approval, and the IPO, with Hem Securities Ltd as the Book Running Lead Manager, may go live by the end of this month. It stated that the move will support the company's growth plans and investor participation details and specific use of proceeds will be shared closer to the issue.
Citing provisional figures, Zelio said that during FY 2025, its revenue was Rs.172.19 crore, and after tax, the profit was Rs.16 crore.
The company stated, "Between FY 2023 and FY 2025, revenue grew at a CAGR (compound annual growth rate) of 83.29 percent, and PAT expanded at a CAGR of 128.76 percent.”
Founded in 2021, Zelio has an annual capacity of 72,000 units. Its portfolio includes a range of electric scooters and three-wheelers distributed through a network of over 280 dealers across 20 states and union territories.
