Zelio E-Mobility appoints Divyanshu Agarwal as CEO after successful IPO

Zelio E-Mobility, an electric two- and three-wheeler manufacturer based in Haryana, appointed Divyanshu Agarwal as chief executive officer on April 15, 2026. The Board of Directors passed this decision by circulation, following a recommendation from the Nomination and Remuneration Committee.

Key Highlights

• Zelio E-Mobility appoints Divyanshu Agarwal as CEO following board resolution.
• Agarwal previously led the UPI business at Navi Limited and trained at Price Waterhouse.
• The company raised Rs 78.34 crore through IPO with 1.5 times overall subscription.n
• Zelio operates over 350 dealers in more than 20 states and union territories.
• Product portfolio includes Zelio electric two-wheelers and Tanga electric three-wheelers

Agarwal, 26, is a chartered accountant. He joins Zelio E-Mobility after leaving Navi Limited, a fintech company founded by Sachin Bansal. At Navi, Agarwal worked from November 2021 and rose from finance associate to head of UPI business and growth by July 2025. He led scaling operations, built partnerships, and participated in the company’s DRHP process, private equity fundraising, and cross-functional projects. Before Navi, he trained at Price Waterhouse Chartered Accountants in Kolkata, handling statutory audits for listed companies.

Leadership and Company Expansion

As CEO, Agarwal will oversee operational execution at Zelio E-Mobility. His responsibilities include developing new manufacturing plants, such as upcoming facilities in Odisha and Coimbatore. He will also focus on expanding the company’s distribution network and aligning products with market needs.

Agarwal stated that Zelio is at a stage where growth must be supported by consistent execution and clear direction. He emphasized strengthening the company’s core, expanding reach in a measured way, and building reliable products for daily use. He highlighted the significant opportunity ahead and the need for disciplined effort.

Kunal Arya, Managing Director of Zelio E-Mobility, commented on Agarwal’s appointment. Arya noted Agarwal’s strong understanding of finance and business operations, as well as his experience in scaling businesses in fast-moving environments. Arya said the company’s expansion requires sharper execution and long-term thinking, and Agarwal is well equipped for this role.

Recent IPO and Business Performance

Zelio E-Mobility’s appointment of Agarwal follows the company’s recent IPO, which raised Rs 78.34 crore. The IPO included a fresh issue of Rs 58.84 crore and an offer for sale of Rs 11.4 lakh shares worth Rs 15.50 crore. The issue closed with an overall subscription of 1.5 times.

The company operates through more than 350 dealers across over 20 states and union territories. Zelio E-Mobility has a customer base exceeding two lakh riders. Its product portfolio includes electric two-wheelers under the Zelio brand and electric three-wheelers under the Tanga brand.

Also Read: Zelio Unveils 2026 Logix Facelift Cargo Scooter at Rs 56,551 for Last-Mile Delivery Boost

CarBike 360 Says

Zelio E-Mobility’s decision to appoint Divyanshu Agarwal as CEO marks a strategic move to build on its post-IPO momentum. With fresh capital and renewed leadership, the company is well-positioned to scale operations, strengthen its market presence, and capitalize on India’s rapidly growing electric mobility segment in the coming years.