Zelio E-Mobility IPO: Sebi Approves Rs 78 Cr Issue

New Delhi, Sep 19 (PTI) Electric vehicle maker Zelio E-Mobility Ltd on Friday said it has received approval from capital market regulator Sebi for its SME IPO to raise Rs 78 crore.

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.

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 profit after tax of Rs 16 crore.

"Between FY23 and FY25, revenue grew at a CAGR (compound annual growth rate) of 83.29 per cent, and PAT expanded at a CAGR of 128.76 per cent," 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.