Zelio E-Mobility appoints Divyanshu Agarwal as CEO amid expansion push

Zelio E-Mobility, one of India’s fast-expanding electric mobility manufacturers, has appointed Divyanshu Agarwal as its Chief Executive Officer, with effect from April 15, 2026. The decision, formalised through a resolution by circulation passed by the Board of Directors on the recommendation of the Nomination and Remuneration Committee, marks a significant leadership transition for the company as it accelerates its next phase of growth.

At just 26, the Chartered Accountant steps into the role following his departure from Navi Limited, founded by Sachin Bansal, earlier this month. Agarwal’s tenure at Navi began in November 2021, during which he rose through the ranks from finance associate to Head of UPI Business and Growth by July 2025—an ascent that underscores both pace and depth of capability in high-growth environments.

During his time at Navi, Agarwal helmed the UPI business, driving scale through operational expansion, forging strategic partnerships, and sharpening execution frameworks. His remit extended across several pivotal corporate milestones, including involvement in the DRHP process, private equity fundraising, and cross-functional initiatives spanning finance, product, human resources, and legal functions. Notably, he also worked in close alignment with Bansal on strategic priorities across the organisation.

In his new capacity at Zelio E-Mobility, Agarwal will focus on reinforcing operational discipline while steering the development and scale-up of new manufacturing facilities in Odisha and Coimbatore. His mandate includes expanding market reach, strengthening distribution networks, deepening partnerships, and aligning the company’s growth trajectory with sustainable, long-term business fundamentals. The emphasis, as the company positions itself for scale, will remain firmly on execution-led growth and product-market alignment.

Agarwal’s professional grounding began at Price Waterhouse Chartered Accountants, where he was engaged in statutory audits of large listed companies. He holds a B.Com (Hons.) degree from St. Xavier’s College, Kolkata and is a qualified Chartered Accountant.

On his appointment, Divyanshu Agarwal said, “Zelio is at a stage where growth needs to be backed by consistent execution and clarity in direction. The focus will be on strengthening the core, expanding reach in a measured way and building products that customers can rely on every day. The opportunity is significant, and the effort will be to build it with discipline.”

Kunal Arya, Managing Director, Zelio E-Mobility, added:
“Divyanshu brings a strong understanding of both finance and business operations. He has seen how to build and scale in fast-moving environments. As we expand, the need is for sharper execution and long-term thinking, and he is well equipped to take that forward.”

The leadership announcement follows Zelio E-Mobility’s recent entry into the public markets, where the company raised ₹78.34 crore through its initial public offering. The issue comprised a fresh raise of ₹58.84 crore alongside an offer for sale of 11.4 lakh shares worth ₹15.50 crore, attracting participation from both institutional and retail investors and closing with an overall subscription of 1.5 times.

With a retail footprint spanning more than 350 dealers across over 20 states and union territories, Zelio E-Mobility continues to broaden its presence in India’s evolving electric vehicle landscape. Its portfolio encompasses electric two-wheelers under the ‘Zelio’ marque and electric three-wheelers under the ‘Tanga’ line, collectively serving a growing base of over 2,00,000 riders nationwide.