Hyderabad-based Keto Motors listed on the BSE on Tuesday, thanks to its reverse merger with Taaza International Ltd.
Shares of the commercial electric vehicle manufacturer focused on sustainable mobility solutions closed at the 5 per cent upper ceiling at ₹110.23 after opening at ₹104.99.
Swap ratio
Shareholders of the Keto Motors received 3 equity shares of Taaza International for every 2 shares they had held.
The reverse merger, approved by the National Company Law Tribunal (NCLT), Hyderabad Bench, in June 2025, enabled the transition of Taaza International Ltd into Keto Motors Ltd, subject to applicable regulatory and exchange compliances. Following the NCLT approval, the new promoters were allotted 5.60 crore equity shares, taking their stake to 92.49 per cent of the expanded equity base.
Expansion plans
“The listing comes as Keto Motors continues to scale its electric commercial mobility business through key initiatives including its ₹300 crore electric bus manufacturing project in Telangana and the upcoming commercial rollout of its Urbanova KE9 9-metre electric bus platform,” the company said in a statement to the exchanges.
Keto Motors continues to strengthen its technology and manufacturing capabilities through its strategic association with TRON Energy Technology, a Taiwan-based EV technology provider with expertise in electric mobility and sustainable transportation systems.
Venkatesh Challa, Director, Keto Motors, said: “Our BSE debut marks an important milestone in Keto Motors’ journey as we continue building a scalable electric commercial mobility business in India. This development strengthens our ability to expand manufacturing capabilities, accelerate product innovation, and support the growing adoption of sustainable transportation solutions across the country. We believe India’s commercial EV sector is entering a transformative phase, and Keto Motors is well-positioned to contribute meaningfully to this transition.”
The company is focused on addressing growing demand from State Transport Undertakings (STUs), institutional fleet operators, employee transportation providers, and urban mobility networks transitioning towards zero-emission transportation systems, he said.