Funding · Mobility & Logistics

Zelio E-Mobility plans Rs 168 crore fundraise to expand EV manufacturing

By Startup Enthusiast · 25 September 2026

What they do

Zelio E-Mobility manufactures electric two-wheelers and three-wheelers, operating multiple production facilities across India

The enterprise intends to secure Rs 167.96 crore via a selective allotment of equities and convertible options

The capital will fund manufacturing capacity expansion, dealer network growth, and a new three-wheeler facility in Haryana

Electric vehicle maker Zelio E-Mobility intends to acquire up to Rs 167.96 crore through equities and convertible options.
Directors sanctioned the creation of up to 9.73 lakh shares priced at Rs 853 apiece for four outside backers to secure Rs 83 crore.
Motilal Oswal Financial Services will acquire shares valued near Rs 40.09 crore.
Calliope Capital Advisors LLP will obtain equities valued around Rs 31.39 crore.
Backers will subscribe to up to 9.96 lakh convertible options at Rs 853 each to gather Rs 84.96 crore.
Equity holders will vote on the transaction during a special gathering arranged for 20 October.

The capital will aid the construction of a forthcoming electric three-wheeler production plant in Patan, Haryana.
The enterprise seeks to grow its overall retailer count from above 400 to past 550 by the conclusion of FY27.
Brickwork Ratings India was designated as the oversight agency for the funds.

The business produces battery-powered two-wheelers under the Zelio label and battery-powered three-wheelers under the Tanga label.
It runs production plants throughout Haryana, Odisha, and Tamil Nadu.
A newly launched plant in Coimbatore elevates the aggregate set-up assembly output to 2.4 lakh items yearly.
The firm posted standalone operating income of Rs 303.54 crore for FY26.