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Zelio E-Mobility IPO
Zelio E-Mobility Ltd
₹1,29,000 /1000 sharesMinimum Investment
Zelio E-Mobility IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 30 Sep ‘25 - 3 Oct ‘25 | ₹2,58,000 | 1,000 | ₹129 - ₹136 |
| Issue Size | IPO Doc |
|---|---|
| 78.34Cr | RHP PDF |
Subscription rate
As of 30 Sep'25, 03:01 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.01x |
| Retail Individual Investor | 0.04x |
| Total | 0.02x |
About Zelio E-Mobility
Founded in
2021
Managing director
Kunal Arya
Parent organisation
Zelio E-Mobility Ltd
Strengths & Financials of Zelio E-Mobility
Strengths
Risks
As of FY25, the company claims to have worked with 337 dealers across more than 20 states and Union Territories in India. The company claims that this geographically diverse network of exclusive and non-exclusive dealers supports its distribution reach and sales growth across urban, semi-urban, and rural markets.
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health and safety management systems.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 51.25 crore in FY23 to Rs 94.42 crore in FY24 and Rs 172.19 crore in FY25. PAT increased from Rs 3.05 crore in FY23 to Rs 6.31 crore in FY24 and Rs 16.01 crore in FY25.
The company’s top 10 suppliers accounted for Rs 105.64 crore (80.58 percent) of the company’s total cost of material consumed in FY25, Rs 60.51 crore (79.51 percent) in FY24, and Rs 33.95 crore (88.88 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company derives a large portion of its revenue from a few states. They accounted for Rs 106.54 crore (61.87 percent) of the company’s total revenue in FY25, Rs 76.67 crore (81.19 percent) in FY24, and Rs 46.26 crore (90.26 percent) in FY23. Any political, social, or economic developments in these regions or any sudden regulatory restrictions could adversely affect the company’s business operations and finances.
The company sources a majority of its raw materials from international markets, mainly China. Imports accounted for Rs 93.73 crore (71.51 percent) of total purchases in FY25, Rs 41.43 crore (54.43 percent) in FY24, and Rs 18.41 crore (48.21 percent) in FY23. Any adverse developments, such as supply chain disruptions, changes in trade policies, or price fluctuations in global markets, could significantly impact the company’s procurement, production, and financial results.
The company is significantly dependent on a small number of dealers for its revenue. Sales from the top 10 dealers contributed Rs 50.73 crore (29.46 percent) of revenue in FY25, Rs 36.85 crore (39.03 percent) in FY24, and Rs 25.90 crore (50.53 percent) in FY23. Any inability to retain these dealers or a reduction in business from them could materially impact the company’s operations, cash flows, and financial condition.
The company has not been able to fully utilise its installed manufacturing capacity of 72,000 units. Actual production stood at 37,836 units (52.55 percent) of installed capacity utilisation in FY25, 19,758 units (27.45 percent) in FY24, and 11,227 units (62.37 percent) in FY23. Any continued underutilisation of capacity may result in higher fixed costs per unit, reduced margins, and an adverse impact on the company’s financial performance.
The company recorded negative cash flows from operating activities of Rs 9.57 crore in FY25 and Rs 0.91 crore in FY23. Negative cash flows from investing activities amounted to Rs 4.86 crore in FY25, Rs 4.64 crore in FY24, and Rs 4.37 crore in FY23. If these negative cash flows persist, it could adversely affect the company’s ability to meet its working capital needs or repay loans without raising additional external financing, thereby impacting its financial condition and operations.
The company is involved in a legal proceeding. Any adverse judgment could be detrimental to its business prospects.
As of FY25, the company reported total indebtedness of Rs 30.67 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Zelio E-Mobility Financials
*All values are in Rs. Cr
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Application Details of Zelio E-Mobility IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Individual investor | ₹129 - 136 | ₹2 - 5 Lakh |
For Zelio E-Mobility IPO, eligible investors can apply as Individual investor.