Electrical automobile (EV) maker Zelio E-Mobility plans to lift as much as Rs 167.96 crore by a preferential concern of fairness shares and convertible warrants because it appears to be like to develop its manufacturing capability and distribution community throughout India.

The BSE SME-listed firm’s board has authorized the proposed fundraise, which is topic to shareholder and different relevant approvals. Shareholders will take into account the proposal at an Extraordinary Normal Assembly scheduled for 20 October.

Underneath the plan, Zelio proposes to concern as much as 9.73 lakh fairness shares at Rs 853 every to 4 non-promoter investors, elevating as much as Rs 83 crore.

Motilal Oswal Monetary Companies is proposed to obtain 4.70 lakh shares price about Rs 40.09 crore, whereas Calliope Capital Advisors LLP will obtain 3.68 lakh shares price about Rs 31.39 crore.

Param Worth Investments is proposed to obtain one lakh shares price Rs 8.53 crore, whereas Hem Development Alternatives Fund will obtain 35,000 shares price about Rs 2.99 crore.

The board has additionally authorized the proposed concern of as much as 9.96 lakh convertible warrants at Rs 853 every to promoters Niraj Arya, Deepak Arya and Kunal Arya, elevating as much as Rs 84.96 crore.

At the very least 25% of the warrant value will probably be payable on or earlier than allotment, with the remaining 75% payable when the warrants are transformed into fairness shares. The warrants might be transformed inside 18 months of allotment.

Following the proposed share allotment and full conversion of the warrants, the promoter and promoter group’s holding will decline from 72.76% to 70.87% on a completely diluted foundation. Public shareholding will enhance from 27.24% to 29.13%.

Zelio has appointed SEBI-registered Brickwork Scores India because the monitoring company for using the proceeds.

Zelio stated the proposed capital increase will assist its growth throughout India, together with the event of its upcoming electrical three-wheeler manufacturing facility in Patan, Haryana.

“Our subsequent part is about constructing the capability and market attain wanted to serve a a lot bigger buyer base throughout India. The proposed fundraise will give us larger room to develop our manufacturing footprint, strengthen our distribution community and speed up the event of our upcoming three-wheeler facility in Patan. We’ve got constructed the enterprise with a give attention to worthwhile progress, and the precedence now could be to take that basis into extra markets whereas persevering with to spend money on the capabilities wanted for scale,” stated Kunal Arya, Managing Director of Zelio E-Mobility.

The corporate has manufacturing operations throughout Haryana, Odisha and Tamil Nadu.

In July, Zelio opened a producing facility in Coimbatore with an annual manufacturing and meeting capability of 60,000 electrical two-wheelers. The addition elevated the corporate’s whole put in manufacturing capability to 2.4 lakh models a 12 months.

Zelio at present has greater than 400 sellers throughout greater than 25 states and plans to develop the community to greater than 550 dealerships by the top of FY27.

Shareholders can even be requested to approve related-party transactions of as much as Rs 50 crore every with 5 entities: Torque Innovation EV Auto Non-public Restricted, AVR Auto Industries Non-public Restricted, Jai Bharat Engineering Instruments, Jai Bharat Auto Parts and Rajdhani Equipment Retailer.

The corporate stated the proposed transactions will contain the acquisition and/or sale of products and will probably be carried out within the extraordinary course of enterprise and on an arm’s-length foundation.

Hisar-headquartered Zelio manufactures electrical two-wheelers below the Zelio model and electrical three-wheelers below the Tanga model.

For FY26, the corporate reported standalone income from operations of Rs 303.54 crore, up 76.28% from Rs 172.19 crore within the earlier monetary 12 months, whereas standalone PAT rose 75.41% to Rs 28.03 crore from Rs 15.98 crore.

On a consolidated foundation, together with its subsidiary Zelio Auto Parts, income from operations stood at Rs 310.71 crore, whereas PAT was Rs 28.39 crore.