Zelio E-Mobility's Green Leap: SME IPO Approved by SEBI

Electric vehicle manufacturer Zelio E-Mobility Ltd has been granted approval by market regulator SEBI for its small and medium enterprise initial public offering (SME IPO) to raise Rs 78 crore.

The company, founded in 2021, confirmed that the IPO, managed by Hem Securities Ltd, will likely go live at the end of the month. This financial move is aimed at accelerating Zelio's growth strategy and expansion plans. Further details on investor participation and the allocation of proceeds will be disclosed as the issue date approaches.

Zelio reported provisional financial figures for FY25 which highlighted substantial growth: a revenue of Rs 172.19 crore and a profit after tax (PAT) of Rs 16 crore. This equates to a compound annual growth rate (CAGR) of 83.29% in revenue and 128.76% in PAT from FY23 to FY25. The company has a production capacity of 72,000 electric vehicles annually and operates through a network of more than 280 dealers across 20 states and union territories.