Electric two-wheeler manufacturer's public offering sees 22.38 lakh shares bid against 41.21 lakh on offer, with institutional investors leading at 1.27 times oversubscription on second day.
01 Oct 2025 | 1677 Views | By Sarthak Mahajan
Zelio E-Mobility's SME initial public offering achieved 54% subscription by the close of its second day, with institutional investors demonstrating strong confidence in the electric vehicle manufacturer's growth prospects.
The company received bids for 22.38 lakh equity shares against the total offering of 41.21 lakh shares by 5:00 PM ...
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Zelio E-Mobility's SME initial public offering achieved 54% subscription by the close of its second day, with institutional investors demonstrating strong confidence in the electric vehicle manufacturer's growth prospects.
The company received bids for 22.38 lakh equity shares against the total offering of 41.21 lakh shares by 5:00 PM on Day 2. The Qualified Institutional Buyers category led the subscription activity, recording 1.27 times oversubscription with 13.88 lakh bids against 10.93 lakh shares available.
Non-Institutional Investors submitted 13 applications totaling 4 lakh shares against an allocation of 11.14 lakh shares, representing 0.36 times subscription. Corporate investors notably contributed 2.94 lakh shares within the higher-ticket bid segment exceeding ₹10 lakh.
The retail investor category saw 225 applications for 4.5 lakh shares against the reserved quota of 19.14 lakh shares, achieving 0.24 times subscription. This reflected steady retail participation alongside the institutional demand driving the offering.
Founded in 2021, Zelio E-Mobility manufactures electric two-wheelers and has established a network of over 300 dealers nationwide. The company has reported year-over-year growth doubling and focuses on research and development for its product lineup.
The IPO proceeds will be allocated toward debt repayment, capital expenditure for a new manufacturing facility, working capital requirements, and general corporate purposes.
The subscription window remains open through October 3, 2025, with applications being accepted via the BSE SME platform. Investors can access additional details through the official BSE notice on the exchange's website.
The offering represents the company's transition to public markets as it seeks to expand manufacturing capabilities and strengthen its position in India's electric vehicle sector.