Zelio E-Mobility's Charged IPO Debut: A Closer Look
Zelio E-Mobility's IPO launched with 36% subscription on its first day. With a Rs 78-crore target, it offers 57.6 lakh equity shares priced between Rs 129 and Rs 136. Funds will manage debts, expand manufacturing, and cover corporate expenses. Zelio reports significant sales and financial growth.
- Country:
- India
Zelio E-Mobility, an electric two- and three-wheeler manufacturer, launched its initial public offering (IPO) which was subscribed 36% on its first day, Tuesday.
The Rs 78-crore public offering involves 57.6 lakh equity shares, priced between Rs 129 and Rs 136, with individual lots containing 2000 shares each. According to BSE data, the Qualified Institutional Investors' segment has been fully subscribed. On the flip side, retail investors showed 20% interest, while non-institutional investors accounted for a 2% subscription.
The proceeds from the IPO are earmarked for several objectives, including repaying and prepaying borrowings, financing a new manufacturing plant, meeting working capital requirements, and fulfilling general corporate objectives. Zelio E-Mobility, which has sold over 1 lakh low-speed scooters across India, reported impressive financial figures with a revenue of Rs 172 crore, Rs 21 crore EBITDA, and Rs 16 crore Profit After Tax in FY25.
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