Zelio E-Mobility, an electric two- and three-wheeler manufacturer listed on BSE, has appointed Divyanshu Agarwal as its with effect from April 15, 2026.
The appointment was approved by the Board of Directors through a resolution by circulation, based on the recommendation of the Nomination and Remuneration Committee.
Agarwal, 26, is a Chartered Accountant who most recently served at Sachin Bansal’s Navi Limited, where he worked from November 2021 until earlier this month.
He rose from a finance associate to Head of UPI Business and Growth, contributing to the company’s DRHP process, private equity fundraising, and cross-functional initiatives.
Prior to Navi, he trained at Price Waterhouse Chartered Accountants in Kolkata, handling statutory audits of large listed companies. He holds a B.Com (Hons.) from St. Xavier’s College, Kolkata.
At Zelio, Agarwal will oversee operational execution, expansion of manufacturing facilities in Odisha and Coimbatore, distribution scaling, and product-market development.
The appointment follows Zelio’s recent IPO, through which it raised ₹78.34 crore — comprising a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares worth ₹15.50 crore. The issue was subscribed 1.5 times, drawing participation from both institutional and retail investors.
The Haryana-headquartered company, founded in 2021, sells electric scooters under the Zelio brand and electric three-wheelers under the Tanga brand, claiming a customer base of over 2 lakh riders across a dealer network of more than 350 outlets spanning 20 states and union territories.
Zelio’s stock closed at ₹452.20 on BSE on April 17, up 4.99 per cent, hitting its upper band, giving the company a full market capitalisation of ₹956.40 crore. The stock trades at a trailing price-to-earnings ratio of 80.89 on standalone earnings of ₹5.59 per share.