Mumbai, Sept. 20 -- Zelio E-Mobility, a rapidly growing manufacturer of electric two- and three-wheelers, has secured approval from the Securities and Exchange Board of India (SEBI) for its SME Initial Public Offering (IPO). The company aims to raise INR 780 million through the public issue, which is expected to be listed on the BSE.

Founded in 2021, Zelio is a manufacturer of electric scooters and three-wheelers. The company claims to have an annual manufacturing capacity of 72,000 units and a distribution network of more than 280 dealers across over 20 states and union territories in India.

In FY2025, the company reported revenue of INR 1.72 billion, net profit of INR 160 million, up 128.76 percent YoY. The company claims a CAGR growt...