Zelio E-Mobility to raise ₹78 crore via SME IPO for R&D, expansion

Hisar-based Zelio E-Mobility to raise Rs 78 crore through an SME IPO to fund new plants, strengthen R&D, reduce debt and enhance capacity to meet growing demand for EVs

Hisar-based Zelio E-Mobility, a manufacturer of electric two- and three-wheelers, is set to launch a Rs 78 crore SME IPO to accelerate its growth plans, boost research and development, and expand production capacity.

 

The company currently operates one plant in Hisar, Haryana, with an annual capacity of 72,000 units, expandable up to 120,000 units. It is also building a new e-rickshaw facility in Hisar and plans to set up two additional plants to cater to rising demand and cut transportation costs in southern and eastern India. “We are doubling our growth every year, but the market itself is growing at three times that pace. To match up, we need more plants and faster execution,” said Kunal Arya, managing director and co-founder of Zelio E-Mobility.

 

Proceeds from the IPO will be used to establish a semi-automated three-wheeler plant on six acres in Hisar, which will feature India’s first robotic paint shop. Funds will also be allocated to research and development, design and development of new scooter models, and repayment of a portion of the company’s Rs 25 crore debt, which will reduce to Rs 20 crore post-issue. 

 

The fully promoter-held, family-run company is led by Arya, his father (chairman), and his uncle (whole-time director). Zelio has been witnessing robust demand but is struggling to meet orders due to capacity constraints. With the fresh capital infusion, the company aims to scale up its operations, improve delivery timelines, ensure better spare parts availability, and increase profitability.

 

As the EV sector in India witnesses rapid adoption, Zelio believes the timing of the IPO is critical. “The industry is evolving at a fast pace, and we need significant funds to compete. We already have the demand but lack the capacity to fulfil it. This IPO will help us move faster,” Arya added.

 

With its focus on expanding capacity and strengthening R&D, Zelio E-Mobility is positioning itself to capture a larger share of India’s growing electric mobility market. 

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