Zelio E-Mobility, a rapidly expanding electric two- and three-wheeler manufacturer that has been doubling its growth year-over-year, continued to draw investor attention on the second day of its SME IPO subscription. A total of 41.21 lakh equity shares were on offer across categories, and 22.38 lakh shares were bid for by 5:00 PM, taking the Day 2 subscription to 54% of the issue size.
The Qualified Institutional Buyers (QIBs) category recorded strong interest, receiving 13.88 lakh bids against 10.93 lakh shares on offer, translating to 1.27 times subscription. This indicates solid confidence from institutional investors in Zelio E-Mobility’s growth trajectory and fundamentals.
The Non-Institutional Investors (NII) segment saw 13 applications for 4 lakh shares against 11.14 lakh on offer, equivalent to 0.36x subscription. Within this, higher-ticket bids (above ₹10 lakh) contributed 3.86 lakh shares, including a notable 2.94 lakh from corporate investors.
Meanwhile, the Individual Investor category saw continued traction, with 225 applications for 4.5 lakh shares against 19.14 lakh shares reserved, reflecting 0.24 times subscription. This highlights steady retail engagement alongside institutional demand. Overall, the second day of bidding reflected a more diversified interest base compared to Day 1, with institutional investors setting the pace and retail investors gradually increasing their participation.
Proceeds from the SME IPO are planned to be utilized for repayment and pre-payment of borrowings, capital expenditure towards establishing a new manufacturing facility, meeting working capital requirements, and general corporate purposes.
The SME IPO of Zelio E-Mobility Ltd. will remain open for subscription until October 3, 2025. Investors can apply through the BSE SME platform.