Motilal Oswal Financial Services bought a 1.65% stake in Zelio E-Mobility for ₹9.8 crore
The transaction involved 3.5 lakh shares acquired at a block deal price of ₹280 each
The BSE-listed EV maker reported 77% revenue growth in its first post-IPO reporting cycle
Motilal Oswal Financial Services acquired 3.5 lakh shares, representing a 1.65% stake, in electric two- and three-wheeler manufacturer Zelio E-Mobility, according to exchange data.
The stake was purchased at ₹280 per share, taking the total transaction value to ₹9.8 crore. The deal adds an institutional investor to the company’s shareholder base and comes amid continued trading activity in the stock.
2 March 2026
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Zelio IPO
Zelio E-Mobility had earlier raised ₹78.34 crore through its IPO, which included a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares worth ₹15.50 crore. The issue was subscribed 1.5 times overall, with participation from both institutional and retail investors. The company’s shares debuted at ₹154.90 on October 8, 2025, marking a 13.9% premium over the issue price, and have maintained an upward trajectory since listing.
Zelio offers a broad product portfolio in the EV segment. Under the Zelio brand, it manufactures a range of electric two-wheelers, including low-speed models such as X Men, X Men 2.0, Gracy i, Gracy+, Gracy Pro, Little Gracy, Eeva, Eeva ZX+, Legender, and the Logix cargo scooter, along with its high-speed model Mystery. In the three-wheeler segment, the company produces e-rickshaw models under the “Tanga” brand, including Tanga Butterfly and Tanga Fine, catering to the expanding commercial and last-mile mobility market.
Zelio Financial Performance
In its first reporting cycle following the SME IPO, the BSE-listed EV manufacturer reported consolidated revenue of ₹134.78 crore and profit after tax of ₹11.87 crore for H1 FY26. On a standalone basis, revenue increased 77% year-on-year to ₹133.3 crore, while profit after tax rose 69% year-on-year. For FY25, the company reported revenue of ₹172 crore, EBITDA of ₹21 crore, and profit after tax of ₹16 crore, with a net worth of ₹26.67 crore.
Supported by a dealer network of more than 350 outlets across over 20 states and union territories, Zelio continues to expand its presence across urban and emerging markets. The breadth of its product lineup, combined with consistent profitability and rapid growth, has strengthened its investment appeal and reinforced its position as a growing player in India’s EV ecosystem.
