Zelio E-Mobility's Electrifying IPO Debut

Zelio E-Mobility's IPO, valued at Rs 78 crore, saw 54% subscription by Day 2. Institutional investors led the interest, while retail investors gradually increased participation. The IPO will fund debt repayment, a new plant, and other corporate needs. The firm's shares are set for BSE's SME platform listing.

Zelio E-Mobility's IPO received a 54% subscription on the second day, signaling a promising debut for the electric two-and three-wheeler maker. As per BSE data, the IPO garnered bids for 22,38,000 shares out of the 41,21,000 offered.

Institutional investors showed robust interest with a 1.27-time subscription in their category, indicating strong market confidence. Meanwhile, the non-institutional and retail segments reported 36% and 24% subscriptions, respectively. The second day of bidding saw a diversified interest base compared to the first day, with institutions driving momentum.

Funds raised will be allocated towards debt repayment, establishing a new manufacturing facility, and other corporate purposes. Founded in 2021, Zelio has already sold over 1 lakh scooters and reported a revenue of Rs 172 crore in FY25.

(With inputs from agencies.)