Zelio E-Mobility, a fast-growing manufacturer of electric two-wheelers and three-wheelers in India, has attracted fresh institutional interest after Motilal Oswal Financial Services purchased a minority stake in the company through a market transaction. The investment reflects increasing investor confidence in emerging electric mobility companies that are benefiting from rising demand for sustainable transportation solutions.
According to exchange filings, Motilal Oswal Financial Services acquired 3.5 lakh shares of Zelio E-Mobility, representing a 1.65 percent stake, at a price of ₹280 per share. The transaction was valued at approximately ₹9.8 crore and adds a prominent institutional investor to the company’s shareholder base.
Following the transaction, Zelio’s stock saw strong activity in early trading, rising nearly 10 percent to around ₹338 per share, taking the company’s market capitalisation to approximately ₹716 crore. The investment comes at a time when Zelio E-Mobility has been reporting strong business growth and expanding its presence in India’s electric vehicle sector.
The company earlier raised ₹78.34 crore through its initial public offering, which included a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares worth ₹15.50 crore. The public issue received healthy investor participation and was subscribed about 1.5 times overall, reflecting interest from both retail and institutional investors. The company made its market debut on October 8, 2025, listing at ₹154.90, representing a premium of nearly 14 percent over the issue price.
Zelio has also demonstrated strong financial performance since its listing. In its first reporting period after the SME IPO, the company recorded consolidated revenue of ₹134.78 crore and profit after tax of ₹11.87 crore for the first half of FY26.
On a standalone basis, revenue increased 77 percent year-on-year to ₹133.3 crore, while profit after tax rose 69 percent compared to the previous year. For the full financial year FY25, Zelio reported revenue of ₹172 crore, EBITDA of ₹21 crore, and profit after tax of ₹16 crore, supported by a net worth of ₹26.67 crore.
The company has built a diverse product portfolio across the electric mobility segment. Under the Zelio brand, it manufactures multiple electric scooter models including X Men, X Men 2.0, Gracy i, Gracy+, Gracy Pro, Little Gracy, Eeva, Eeva ZX+, Legender, Logix cargo scooter, and the high-speed model Mystery. In the three-wheeler segment, Zelio produces e-rickshaws under the Tanga brand, including Tanga Butterfly and Tanga Fine, designed to serve the growing last-mile transportation and commercial mobility markets.
The company’s expansion strategy is supported by a dealer network of more than 350 outlets spread across over 20 states and union territories. By focusing on product development, accessible pricing, and nationwide distribution, Zelio continues to strengthen its position in India’s electric mobility ecosystem.
Founded in 2021 and headquartered in Haryana, Zelio E-Mobility develops electric two-wheelers and three-wheelers designed to support cleaner and more sustainable transportation. The company offers a range of electric scooters known for their design, performance, and mileage, supported by ongoing research and development initiatives. With a growing dealer network across the country, Zelio aims to deliver user-friendly, environmentally responsible mobility solutions backed by reliable customer service and continuous technological innovation.
