Zelio E-Mobility, one of India’s fastest-growing electric two- and three-wheeler startups and among the few new-age EV companies to go public this year, continued its remarkable stock market performance as its shares surged 10% on the BSE. The company had made a strong debut on October 8, 2025, listing at ₹154.90, a 13.9% premium over its issue price of ₹136 per share. Since then, Zelio has maintained consistent upward momentum, and at today’s upper circuit, the share price touched ₹291, and closed at ₹255 reflecting sustained investor confidence in the company’s growth trajectory and business model.
Zelio E-Mobility raised ₹78.34 crore through its IPO, including a fresh issue of ₹58.84 crore and an Offer-for-Sale of 11.4 lakh shares worth ₹15.50 crore. The IPO witnessed healthy participation across categories, being subscribed 1.5 times overall, with strong support from institutional and retail investors alike.
Founded in 2021, Zelio has rapidly established a strong presence in India’s EV market with an installed annual capacity of 72,000 units and a loyal customer base of over 200,000 riders. The company’s portfolio includes a diverse range of electric two-wheelers under the ‘Zelio’ brand, including low-speed models like X Men, X Men 2.0, Gracy i, Gracy+, Gracy Pro, Little Gracy, Eeva, Eeva ZX+, Legender, and the Logix cargo scooter, alongside the high-speed Mystery. Zelio’s three-wheeler lineup under the ‘Tanga’ brand features the Tanga Butterfly and Tanga Fine, catering to the growing last-mile and commercial transport market.
With a rapidly expanding network of over 280 dealers across 20+ states and union territories, Zelio has positioned itself as a trusted choice for riders and fleet operators alike. The company reported FY25 revenue of ₹172 crore, EBITDA of ₹21 crore, and PAT of ₹16 crore, with a net worth of ₹26.67 crore. Its impressive financial performance is further reflected in ROE and ROCE of 59.96%, alongside remarkable revenue and PAT CAGRs of 83% and 128%, respectively, between FY23 and FY25.
Hem Securities acted as Book Running Lead Manager, Maashitla Securities as Registrar, and Hem Finlease as market maker. Being an SME IPO, Zelio E-Mobility shares are listed exclusively on the BSE, where recent performance reinforces growing investor faith in the company’s vision of driving cleaner, efficient, and accessible electric mobility across India.
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