Zelio E-Mobility, a manufacturer of electric two- and three-wheelers listed on the Bombay Stock Exchange (BSE), has appointed Divyanshu Agarwal as Chief Executive Officer, effective April 15, 2026. The Board of Directors approved his appointment through a resolution by circulation, following a recommendation from the Nomination and Remuneration Committee.
Agarwal, 26, is a Chartered Accountant and most recently held a position at Navi Limited, founded by Sachin Bansal, where he worked from November 2021 until earlier this month. During his tenure, he advanced from a finance associate to Head of UPI Business and Growth, significantly contributing to the company’s Draft Red Herring Prospectus (DRHP) process, private equity fundraising, and various cross-functional initiatives.
Before joining Navi, Agarwal trained at Price Waterhouse Chartered Accountants in Kolkata, where he was involved in statutory audits for large listed companies. He holds a Bachelor of Commerce (Honors) degree from St. Xavier’s College, Kolkata.
In his new role at Zelio, Agarwal will be responsible for operational execution, overseeing the expansion of manufacturing facilities in Odisha and Coimbatore, scaling distribution, and furthering product-market development.
This leadership change follows Zelio’s recent initial public offering (IPO), during which the company raised ₹78.34 crore, comprising a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares valued at ₹15.50 crore. The IPO was subscribed 1.5 times, attracting interest from both institutional and retail investors.
Founded in 2021 and headquartered in Haryana, Zelio sells electric scooters under the Zelio brand and electric three-wheelers under the Tanga brand, claiming a customer base of over 200,000 riders across more than 350 outlets in 20 states and union territories.
As of April 17, 2026, Zelio’s stock closed at ₹452.20 on the BSE, representing a 4.99 percent increase and reaching its upper trading band. This gave the company a total market capitalization of ₹956.40 crore, with the stock trading at a trailing price-to-earnings ratio of 80.89, based on standalone earnings of ₹5.59 per share.
Published on April 17, 2026.
