Haryana | 25 September 2026: Zelio E‑Mobility Ltd., a rapidly expanding electric two‑ and three‑wheeler manufacturer, has received board approval (subject to shareholder and regulatory approvals) to raise up to ₹167.96 crore through a preferential issue of equity shares and convertible warrants.
The proposed fundraise will support:
- Nationwide expansion of Zelio’s dealer and distribution network.
- Development of its upcoming three‑wheeler manufacturing plant in Patan, Haryana.
Fundraise Details
- Equity Shares:
- Up to 9.73 lakh shares at ₹853 each, aggregating ₹83 crore.
- Proposed allottees: Motilal Oswal Financial Services, Calliope Capital Advisors LLP (Navin Agarwal), Param Value Investments (Mukul Agrawal), Hem Growth Opportunities Fund.
- Convertible Warrants:
- Up to 9.96 lakh warrants at ₹853 each, aggregating ₹85 crore.
- Issued to promoters Niraj Arya, Deepak Arya, and Kunal Arya.
- 25% payable upfront, balance 75% on conversion within 18 months.
- Brickwork Ratings India appointed to monitor utilisation of proceeds.
Kunal Arya, Managing Director, Zelio E‑Mobility: “Our next phase is about building the capacity and market reach needed to serve a much larger customer base across India. The proposed fundraise will give us greater room to expand our manufacturing footprint, strengthen our distribution network and accelerate the development of our upcoming three‑wheeler facility in Patan.”
Financial & Operational Growth
- Revenue FY25–26: ₹303.54 crore (standalone), up 76.28% YoY.
- Revenue CAGR: 121% over the last four years.
- Profitability: Profitable since inception.
- IPO: Listed on BSE SME in October 2025 at ₹136 per share, raising ₹62.83 crore via fresh issue.
- Current stock price: ₹1,036.20.
Manufacturing Footprint
- Ladwa, Haryana: 2,63,450 sq. ft.
- Coimbatore, Tamil Nadu: ~39,000 sq. ft.
- Cuttack, Odisha: ~30,500 sq. ft.
- Upcoming: Three‑wheeler plant in Patan, Haryana.
Dealer Network
- 400+ dealers across 25+ states.
- Targeting 550+ dealerships by FY27.
- Expansion to deepen presence in existing markets and open new ones.
EGM & Approvals
- Extraordinary General Meeting (EGM): Scheduled for October 20, 2026.
- Shareholders to review:
- Proposed preferential issue.
- Related‑party transactions of up to ₹50 crore each with Torque Innovation EV, AVR Auto Industries, Jai Bharat Engineering Tools, Jai Bharat Auto Components, and Rajdhani Machinery Store.
- Subject to BSE in‑principle approval and other statutory/regulatory clearances.
About Zelio E‑Mobility Ltd.
Founded in 2021 and headquartered in Haryana, Zelio E‑Mobility Ltd. designs and manufactures eco‑friendly electric two‑ and three‑wheelers.
- Known for stylish looks, powerful features, excellent mileage, and user‑friendly design.
- Backed by 400+ dealers nationwide and strong R&D focus.
- Committed to sustainable mobility and reliable customer service.
🌐 Website: www.zelioebikes.com
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