Motilal Oswal Financial Services has acquired a 1.65% stake in electric vehicle maker Zelio E-Mobility for ₹9.8 crore through a market transaction. The institutional investment comes as the BSE-listed company continues to report strong growth. Zelio, which raised ₹78.34 crore through its IPO in 2025, manufactures electric two-wheelers and e-rickshaws for India’s mobility market.