Zelio E-Mobility IPO subscribed 36 pc on opening day

New Delhi, Sep 29 (PTI) The initial public offering (IPO) of electric two- and three-wheeler manufacturer Zelio E-Mobility has been subscribed 36 per cent on the opening day on Tuesday.

The Rs 78-crore IPO received bids for 15,02,000 shares against 41,21,000 shares on offer, according to BSE data.

According to BSE data, Qualified Institutional Investors' portion has been fully subscribed. Retail investors’ portion has been booked 20 per cent while the category for non-institutional investors got subscribed 2 per cent.

The Rs 78-crore issue comprises 57,60,000 equity shares of Rs 10 each, including a fresh issue of 46,20,000 shares and an Offer for Sale of 11,40,000 shares.

The company has fixed the price in the range of Rs 129–Rs 136 per share with a lot size of 2000 shares. The issue will conclude on October 3.

Proceeds from the IPO are planned to be deployed towards repayment and prepayment of borrowings, capital expenditure for establishing a new manufacturing facility, meeting working capital needs, and general corporate purposes.

Electric two- and three-wheeler manufacturer Zelio E-Mobility has crossed sales of 1 lakh low-speed scooters across India so far. In FY25, the company reported Rs 172 crore in revenue, Rs 21 crore EBITDA, and Rs 16 crore Profit After Tax. PTI MSS MR MR