The automobile industry is rapidly growing, with the Electric Vehicles (EV) segment being a major contributor. A report by Fortune Business Insights suggests that the prospects of the Electric automobile market are set to skyrocket from $3.21 billion in 2022 to $113.99 billion by 2029, growing exponentially at a 66.52% CAGR.
Suitably positioned is an EV manufacturer that is now bringing its ₹78 Crores SME IPO. Yes, Zelio E Mobility is knocking on the IPO market door, and we are about to open it for you. Find out the latest Zelio E Mobility IPO details, including its share price, lot size, grey market premium, and much more, right here in this blog.
Zelio E Mobility IPO Details
This table highlights the main details related to the Zelio E Mobility IPO.
| IPO Open Date | 30 September 2025 |
| Ends on | 3 October 2025 |
| Face Value | ₹10 per share |
| Price Range | ₹129-136 per share |
| Issue size | ₹78.34 Cr |
| Lot size | 1,000 Shares |
| Sale Type | Fresh capital-cum-offer for sale |
| Offer for Sale | ₹15.5 Cr |
| Fresh Issue | ₹58.83 Cr |
| Issue Type | Book-building IPO |
| Listing At | BSE SME |
| Total Issue Size (₹ Cr) | ₹78.34 Cr |
| Reserved for Market Maker | ₹4.00 Cr |
| Net Offered to Public | 54,66,000 shares (₹74.34 Cr) |
| Minimum Investment | ₹2,72,000 |
| Employee Discount | – |
Zelio E Mobility IPO Timeline
Here’s the Zelio E Mobility IPO timeline:
| IPO Open Date | Sep 30, 2025 |
|---|---|
| Ending Date | Oct 3, 2025 |
| Tentative Allotment | Oct 6, 2025 |
| Initiation of Refunds | Oct 7, 2025 |
| Shares reach demat | Oct 7, 2025 |
| Tentative Listing Date | Oct 8, 2025 |
| Cut-off Time for UPI Mandate Confirmation | Oct 3, 2025 (5 pm) |
Zelio E Mobility IPO Grey Market Premium (GMP)
Is the market positive or negative about this IPO? You will know through the Zelio E Mobility IPO GMP today:
| Date | GMP (₹) | Estimated Listing Price |
| 26 Sept 2025 | ₹0 | – |
Zelio E Mobility IPO Reservation
Let’s see the investor categorisation for the Zelio E Mobility IPO below:
| Categorisation | Reservation |
| QIB shares offered | Maximum 50% |
| Non-Institutional Investors (NII/HNI) | Minimum 15% |
| Retail Individual Investors | Minimum 35% |
Zelio E Mobility IPO Key Performance Indicator
Want to gauge the performance of Zelio? Look through their Key performance indicators (KPIs) to determine their viability. Here’s a concise table for the KPIs of Zelio E Mobility IPO:
| Particulars | Sept 30, 2024 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
| ROE (%) | 49.66 | 83.99 | 108.00 | 195.39 |
| PAT Margin (%) | 9.36 | 6.68 | 5.96 | 9.86 |
| EBITDA Margin (%) | 12.34 | 9.27 | 7.84 | 11.96 |
| RONW (%) | 49.66 | 83.99 | 108.00 | 195.39 |
| RoCE (%) | 23.63 | 34.84 | 29.61 | 32.56 |
| EPS | ₹4.26 | ₹3.82 | ₹1.85 | ₹0.77 |
Zelio E Mobility IPO Financials
Here’s a summarised table for Zelio E Mobility company financials:
| Sep 30, 2024 | FY24 | FY23 | FY22 | |
| Revenue | 7527.98 | 9442.50 | 5125.07 | 1289.32 |
| Total Asset | 5,388.75 | 2,907.78 | 1,546.85 | 856.61 |
| Profit | 704.60 | 630.88 | 305.53 | 127.14 |
(Amount in ₹ lakhs)
Zelio E Mobility IPO Lot Size
Here’s a concise table to showcase the IPO lot size and investment blocks for each category of investor, for the Zelio E Mobility IPO:
| Application | Lot Size | Shares | Amount(in ₹) |
| Individual investors (Retail) (Min) | 2 | 2,000 | 2,72,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | 2,72,000 |
| S-HNI (Min) | 3 | 3,000 | 4,08,000 |
| S-HNI (Max) | 7 | 7,000 | 9,52,000 |
| B-HNI (Min) | 8 | 8,000 | 10,88,000 |
Zelio E Mobility IPO Promoter Holding
This table shows what the company’s post-issue shareholding looks like in front of the pre-issue shareholding:
| Shareholding Pre-Issue | 100% |
| Shareholding Post Issue | 75.77% |
Zelio E Mobility is promoted by Niraj Arya, Kunal Arya, Deepak Arya, and Sayuri Arya.
Zelio E Mobility IPO Anchor Investors Details
This table presents the Zelio E Mobility anchor investor details:
| Bid Date | September 29, 2025 (tentative) |
| Shares Offered | Up to 60% of the QIB Portion |
| Anchor Portion Size (In Cr.) | NA |
| Lock-in period end date for half of the shares (30 Days) | NA |
| Lock-in period end date for remaining shares (90 Days) | NA |
Zelio E Mobility IPO Prospectus
To get a comprehensive perspective on the Zelio E Mobility IPO, you can read the official documents below:
| DRHP (Doc) | |
| RHP (Doc) |
About Zelio E Mobility
Zelio E Mobility was established in 2021. Their core business comprises the manufacturing, assembly, and supply of electric vehicles. Their main products are electric 2-wheelers (E-2Ws) and three-wheelers (3Ws), in distinct variants, colours, and designs.
Their products are distributed through a range of exclusive and non-exclusive dealers spread across many parts of India. Their main focus is on the B2B distribution model.
Their corporate office and sole manufacturing unit are situated in Hisar, Haryana. Their major revenue comes from E-2Ws (97.64% of total income till H2FY25 September 30, 2025), while only a tiny fraction of it comes from 3Ws.
Zelio’s major competitors are Delta AutoCorp Limited and Tunwal E-Motors Limited.
Objectives of the Zelio E Mobility IPO:
Zelio E Mobility has the following utilisation plan for the incoming proceeds of the IPO:
| Purpose of Funds | Amount (₹ in crores) |
| Paying off certain borrowings availed | 24.5 |
| Funding the capital Expenditure is needed to set up a new manufacturing unit | 23.88 |
| Working capital requirements | NA |
| General corporate purposes | NA |
| Total | NA |
Strengths Of Zelio E Mobility IPO:
- Range of dealers: Zelio E Mobility works with an extensive range of dealers. They have 280 dealers spread across different states and territories of India. Their focus remains on building long-lasting relationships with the dealers to ensure an uninterrupted supply of raw materials.
- Maintaining Quality Assurance: The company ensures quality is maintained and delivered across its diverse range of products. By adhering to all standards, they ensure that their products meet the highest quality standards. This is their key to maintaining long-term relationships with clients and other stakeholders.
- Strong Financials: Over the years, Zelio has succeeded in maintaining an efficient financial performance. It has witnessed a growth in profitability as well as cash flows.
- Experienced management and team: Zelio is managed and run by a highly experienced and efficient team of promoters and managers.
Risks of Zelio E Mobility IPO:
- Limited supply chain: Zelio depends on a few suppliers for a majority of its raw materials. Their main dependency lies with China, which exposes them to a high trade risk.
- Limited track record: The company has a short working history with only three years of existence. This makes it difficult for the investors to analyse past performance or prospects.
- Major revenue from Haryana: The company derives a significant portion of its revenue from sales within Haryana. Major social, political, or economic issues, or changes in government policies, could force us to change our business strategy, spend heavily, or even pause operations.
- Dependency on licenses: Zelio’s operations rely significantly on approvals, licenses, and agreements. Any delays or lapses in attaining licenses could impact the business negatively.
The takeaway
The Zelio E Mobility is opening on September 30, 2025. Strong financials, a focus on great quality, and a diverse range of dealers have been the cornerstone of the company’s prospects. However, regulatory dependencies, concentrated revenue scope, and a limited track record pose as threats to the company.
Other Recent IPO List
Liked this IPO review? Check out other recent IPO reviews here:
| Saatvik Energy IPO | Fabtech Technologies IPO |
| Epack Prefab Technologies IPO | Jinkushal Industries IPO |
| Ganesh Consumer IPO | Atlanta Electricals IPO |
| Jain Resource Recycling IPO | VMS TMT IPO |
FAQs
The Zelio E Mobility IPO is set to open on September 30, 2025. The IPO will close on October 3, 2025. Its IPO size is ₹78.34 Crores, which is a completely fresh issue.
To apply for the Zelio E Mobility IPO through the Zerodha app, follow these steps: First, log in to the Zerodha website or app, go to ‘bids’, search for ‘Zelio E Mobility IPO’, and click on ‘apply’. Next, choose the number of lots you want to apply for, submit the form, and make a payment.
The Zelio E Mobility IPO subscription opens on September 30, 2025, and closes on October 3, 2025. Its tentative allotment date is October 6, 2025. The listing date is October 8, 2025.
The Zelio E Mobility IPO lot size is 1,000 shares. The Zelio E Mobility IPO share price is between ₹129 and ₹136 per share. A retail investor can bid for a minimum and maximum of 2 lots. This means the minimum and maximum investment amount for a retail investor shall be ₹2,72,000.
To apply for the Zelio E Mobility IPO, an investor must have a demat account. Choose to invest in any one of the many online broking platforms. Once the IPO is open for subscription, select the ‘Zelio E Mobility IPO’ and enter the quantity. Then, make the payment to confirm your bid.
The tentative allotment date for the Zelio E Mobility IPO is October 6, 2025.
The tentative listing date for the Zelio E Mobility IPO is Tuesday, October 8, 2025.
