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Zelio E-Mobility Board Approves ₹168 Crore Preferential Issue for Expansion

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Zelio E-Mobility Board Approves ₹168 Crore Preferential Issue for Expansion

The post Zelio E-Mobility Board Approves ₹168 Crore Preferential Issue for Expansion appeared first at EVreporter on EVreporter.

Haryana-based electric two- and three-wheeler manufacturer Zelio E-Mobility has received board approval to raise up to ₹167.96 crore through a preferential issue of equity shares and convertible warrants, subject to shareholder, BSE and other applicable regulatory approvals. The company plans to use the funds for its expansion across India, including the development of its upcoming three-wheeler manufacturing facility in Patan, Haryana.

The company proposes to issue up to 9.73 lakh equity shares at ₹853 per share to four non-promoter institutional and private investors, aggregating approximately ₹83 crore. The proposed equity allotment includes ₹40.1 crore to Motilal Oswal Financial Services, ₹31.4 crore to Calliope Capital Advisors LLP, ₹8.5 crore to Param Value Investments and approximately ₹3 crore to Hem Growth Opportunities Fund.

The board has also approved the issue of up to 9.96 lakh convertible warrants at ₹853 each to promoters Niraj Arya, Deepak Arya and Kunal Arya, aggregating approximately ₹85 crore. Under the proposed terms, 25% of the issue price will be payable upfront, with the remaining 75% payable at the time of conversion within 18 months from the date of allotment.

Zelio will seek shareholder approval for the proposed preferential issue at an Extraordinary General Meeting (EGM) scheduled for October 20, 2026 . Shareholders will also consider proposed related-party transactions of up to ₹50 crore each with Torque Innovation EV, AVR Auto Industries, Jai Bharat Engineering Tools, Jai Bharat Auto Components and Rajdhani Machinery Store.


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