Electric vehicle maker Zelio E-Mobility gets SEBI nod for Rs 78 Cr SME IPO
The company has already got the DRHP (draft red herring prospectus) approval. The IPO may go live at the end of this month, Zelio E-Mobility said in a statement.
Electric vehicle maker Zelio E-Mobility Ltd on Friday said it has received approval from the capital market regulator SEBI for its SME IPO to raise Rs 78 crore.
The company has already obtained the DRHP (draft red herring prospectus) approval. The IPO may go live at the end of this month, Zelio E-Mobility said in a statement.
The IPO, with Hem Securities Ltd as the Book Running Lead Manager, is expected to support the company's next phase of growth, it said, adding that investor participation details and specific use of proceeds will be shared closer to the issue.
Citing provisional figures, Zelio said that during FY25, it had a revenue of Rs 172.19 crore, and a profit after tax of Rs 16 crore.
"Between FY23 and FY25, revenue grew at a CAGR (compound annual growth rate) of 83.29%, and PAT expanded at a CAGR of 128.76%," it added.
Founded in 2021, Zelio has an installed annual capacity of 72,000 units.
Its portfolio includes a range of electric scooters and three-wheelers distributed through a network of more than 280 dealers across over 20 states and union territories, the company said.
The company has a goal of expanding this to 1,000 dealerships by the end of 2025.
Zelio E-Mobility would become one of the few electric vehicle manufacturers to list on public bourses after Bhavish Aggarwal-led Ola Electric, last year, and Ather Energy, earlier this year.
The news comes amidst rising regulatory push and an uptick in demand for electric vehicles in India.
(With inputs from Team YourStory)