Other Deals - Listed Firms
Electric scooter maker Zelio E-Mobility to raise Rs.168-Cr via pref issue
Publicly listed Zelio E-Mobility , a Hisar, Haryana-based electric vehicle (EV) manufacturer, is to raise INR 167.95 crore through a preferential issue of equity shares and convertible warrants. The transaction involves issuing 9.73 lakh equity shares to four investors - led by Motilal Oswal Financial Services - to raise about INR 83 crore, alongside the issuance of 9.96 lakh convertible warrants to three promoters to raise an additional INR 85 crore.Founded in 2021 by Neeraj Arya, the firm manufactures electric vehicles, primarily low-speed electric scooters, and has a network of over 300 dealers across 25 states. The firm plans to use the capital for growth initiatives, including the expansion of its dealership network to 550 outlets by the end of fiscal year 2027 and increasing manufacturing capacity from 1.8 lakh units to 2.4 lakh units per annum.Upon completion of the share and warrant allotments, the promoter group stake in the firm is expected to dilute to 70.9%, while public shareholding will increase to 29.1%.
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