Celebrity Capital Meets EV Disruption: Suniel Shetty, KL Rahul, Ahan Shetty & Akshai Varde Join Forces to Launch Exelmoto
A rare founder-investor coalition blends star power with startup thinking to scale electric commuting across India's urban and semi-urban heartlands.
Exelmoto today announced the start of its pre-order window from June 28 for a limited batch of 999 Ebikes, each available for booking at a token amount of Rs 499 on https://www.exelmoto.com .
These are not traditional electric scooters---they are Ebikes, categorised as electric cycles equipped with pedal assist systems that allow riders to stay active while significantly reducing their carbon footprint, delivering one of the lowest costs per kilometre in the electric mobility segment.
What sets them apart is their patented design---a unique blend of motorcycle-inspired styling with the agility and convenience of a cycle. Built using premium components and offering unmatched fit-and-finish, Exelmoto's Ebikes are proudly manufactured in India and are not just high on functionality---they're certified head-turners built for riders who want performance, style, and sustainability in one powerful ride.
CELEBRITY-LED TRUST & COOL FACTOR: "Ride the Future" is not just a statement, it's Exelmoto's tagline---capturing the brand's vision to redefine how India rides.
Suniel Shetty's association with Akshai goes back to when Akshai first designed a custom bike for Ahan's debut film Tadap and later redesigned some of Suniel's personal motorcycles that he still drives today.
Over the years, Suniel witnessed firsthand Akshai's meticulous craftsmanship, innovative design philosophy, and unwavering commitment to excellence. This deep personal trust and understanding of Akshai's exceptional capabilities, combined with his two decades of industry experience and clear vision for sustainable mobility, led Suniel and his family to invest in Exelmoto.
Speaking about Exelmoto, Suniel Shetty, entrepreneur and mentor, said, "I've watched Akshai create magic with metal and design over the years. When he shared his dream of clean, stylish mobility for India, I knew we had to be part of it. For the first time, I'm working with my sons, Ahan and KL Rahul, on a project, and it feels right that it's something focused on a cleaner future. Exelmoto represents more than just transportation; it's about reshaping how India moves forward. We believe caring for our environment should be effortless, stylish, and genuinely accessible to everyone. This is proudly made in India, designed for India, and it's something we're genuinely proud to be part of." KL Rahul, known for his focus on performance and discipline, added, "I believe in performance---on the field and on the road. And, I believe in products that blend purpose with performance. Exelmoto ticks all the boxes.With Exelmoto, we're giving India a reliable, stylish, and affordable ride built for our kind of hustle. This initiative aligns with what many Indians are looking for---smart, clean, and future-ready ways to move." Ahan Shetty, addressing younger consumers, said, "This is for my generation---bold, smart, and conscious of the planet. We're proud to be part of a brand that doesn't just follow trends but sets them---both in how it looks and what it stands for. I ride Exelmoto because it reflects who we are---innovative, fearless, and future-focused." Speaking about the company's vision, Akshai Varde, Founder and CEO of Exelmoto, said, "We designed Exelmoto to be a bridge between aspiration and accessibility. This isn't just an EV. It's a movement. Our goal is to make green commuting aspirational, affordable, and proudly Indian. With over two decades of experience in premium motorcycle design and manufacturing, I wanted to create an Ebike that delivers the thrill of a motorcycle, the freedom of a cycle, and the convenience of a mobile device. The result is a patented, precision-built product that's as beautiful to look at as it is powerful to ride. Engineered for India, backed by Indian icons, Suniel, KL Rahul & Ahan, and built to serve both cities and small towns---Exelmoto is how the future moves." WHAT MAKES EXELMOTO A CATEGORY BREAKER: Exelmoto's debut includes two unisex Ebikes---E1X Sky and E2R Rosso---designed with patented motorcycle-inspired frames, blending the build quality of a bike with the ease and accessibility of a cycle.
Unlike standard e-scooters, these Ebikes feature pedal assist, allowing riders to stay fit while significantly reducing their carbon footprint. They offer the lowest cost per kilometer among electric two-wheelers in their category.
Key highlights include: • Rugged fat-tyre styling with premium finish and street appeal • Removable, easy-charge lithium battery (home/office compatible)• 40--60 km range per charge • No registration or license required • Lightweight frame tailored to Indian road conditions • Designed for students, professionals, delivery riders, and families • Introductory price under ₹42,000 (post-pre-order phase) "Ready Before the World Catches On" -- Campaign Rollout Begins: The pre-booking kickstarted with a spectacular campaign that encapsulates the vision stating 'Ready Before the World Catches On.' Ride the Future! The campaign highlights India's rising need for clean, smart, and stylish transport.
Rooted in authenticity and driven by aspiration, The overarching campaign theme, 'Catch Up. Or Better… Pre-Book', showcases how Exelmoto isn't waiting for the world to adapt. It's already riding into the future—with India's most relevant icons leading the way. It taps into the desire for status, speed, and sustainability, while being accessible and cross-generational.
EXPANSION & ROADMAP: Beyond the pre-order campaign, Exelmoto will activate a robust, nationwide dealer distribution and service network—designed not just for reach, but for long-term rider confidence. This model reflects the brand's commitment to building a future-ready EV ecosystem where accessibility meets accountability. By integrating seamless delivery with dependable after-sales support, Exelmoto aims to redefine ownership expectations in the electric mobility space and set new benchmarks for trust and service in the Ebike category.
POST-ORDER ROADMAP: Following the pre-order campaign, Exelmoto will activate a nationwide dealer distribution and service network—designed not just for reach, but for long-term rider confidence. The company's roadmap includes expanding pre-order access, fulfilment, and local activations across Tier 1 and Tier 2 cities, including Mumbai, Delhi, Ahmedabad, Pune, Bengaluru, Jaipur, Kochi, Chennai, Nagpur, Lucknow Chandigarh, Indore and Hyderabad. Exelmoto will support this rollout with a combination of • Digital-first campaigns • Influencer-led storytelling • On-ground test ride experiences • City-wise community fan engagement PRE-ORDER DETAILS: • Pre-Booking Opens: June 28, 2025 • Pre-Order Fee: Rs 499 only • Units Available: 999 bikes • Booking Link: https://www.exelmoto.com • Models Available: E1X Sky & E2R Rosso • Features: License-Free | Registration-Free | Fat-Tyre Styling | Made in India ABOUT AKSHAI VARDE & EXELMOTO: With two decades in premium motorcycle design and manufacturing, Akshai Varde brings an award-winning legacy of innovation, engineering, and entrepreneurship to Exelmoto. At the heart of Exelmoto are patented Ebike designs that are as thrilling to ride as they are effortless to charge---as intuitive as a mobile device. Akshai's deep expertise in manufacturing and industry economics drives Exelmoto's vision to evolve into a global micro-mobility brand built in India, for the world. Exelmoto is headquartered in Mumbai.
(Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
6 minutes ago
- Economic Times
Ambuja Cements Q1 Results: Cons profit rises 24% YoY to Rs 970 crore, revenue jumps 23%
Adani Group company Ambuja Cements on Thursday reported a 23.8% (Year-on-Year) surge in its net profit to Rs 969.66 crore for the first quarter ended June 2025, as against Rs 783.18 crore posted in the year-ago period. Meanwhile, the revenue from operations jumped 23.45% YoY. ADVERTISEMENT The revenue from operations stood at Rs 10,244.11 crore for Q1FY26, up from Rs 8,292.10 crore reported in the corresponding quarter of the previous financial year. MORE TO COME.... (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
9 minutes ago
- Economic Times
Laxmi India Finance IPO subscribed 1.05x on final day so far; should you apply? Check GMP, review, and more
The Rs 254.26 crore initial public offering (IPO) of Laxmi India Finance fully subscribed on the final day of the subscription period, registering an overall subscription rate of 1.05 times. This strong response was largely driven by significant interest from retail investors. The IPO shares are trading at a grey market premium of Rs 4, implying a listing price of around Rs 162, about 2.5% above the IPO's upper price band of Rs 158. ADVERTISEMENT By 11:10 AM on the final day of the IPO subscription, the overall subscription rate had increased to 1.05 times, indicating that the issue was fully subscribed with some additional demand. Among the different investor categories, retail investors showed the greatest interest, oversubscribing their portion by 1.15 times, meaning they applied for 15% more shares than allotted to them. On the other hand, non-institutional investors (NII) were less enthusiastic, with only 78% of their allocated shares being subscribed, reflecting lower demand in this segment. Similarly, qualified institutional buyers (QIBs), who are typically large investors such as mutual funds and insurance companies, subscribed to just 45% of their allotted shares, showing relatively weak participation from institutional investors in this IPO. As of July 31, the grey market premium (GMP) for Laxmi India Finance's IPO was Rs 4, which means the shares are trading at a slight premium of about 2.5% above the IPO's upper price band of Rs 158. The GMP indicates that investors in the unofficial grey market expect the shares to list at around Rs 162 on the stock exchange. In other words, the implied listing price based on grey market activity is Rs 162, slightly higher than the IPO price. The IPO, which opened for subscription on July 29 and closes on July 31, is a book-built issue with a price band of Rs 150–158 per share. It comprises a fresh issue of 1.04 crore equity shares worth Rs 165.17 crore and an offer for sale (OFS) of 56.38 lakh shares worth Rs 89.09 crore by existing shareholders. The company intends to utilise the net proceeds from the fresh issue to strengthen its capital base and support future lending operations. ADVERTISEMENT Shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of August investors can bid for a minimum lot size of 94 shares, amounting to Rs 14,852 at the upper end of the price band. ADVERTISEMENT Laxmi India Finance has built a strong footprint in rural and semi-urban lending. As of March 2025, the company reported assets under management (AUM) of Rs 1,277 crore, with MSME loans accounting for 76.34% of the portfolio. The loan book spans Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh, supported by a branch network of 158 offices and over 35,500 active borrowers, many of them first-time credit company's revenue surged 42% year-on-year to Rs 248 crore in FY25, while profit after tax climbed 60% to Rs 36 crore. Backed by high-yield lending products and a focus on underserved markets, Laxmi India Finance positions itself as a scalable play on India's growing formal credit ecosystem. ADVERTISEMENT Bajaj Broking recommends subscribing to the IPO from a long-term investment perspective. 'Laxmi India Finance Limited (LIFL) focuses on catering to the financial needs of underserved customers, particularly in the MSME segment. Over the past three fiscal years, the company has shown steady growth in both total income and net profit, reporting Rs 130.67 crore / Rs 15.97 crore in FY23, Rs 175.02 crore / Rs 22.47 crore in FY24, and Rs 248.04 crore / Rs 36.01 crore in FY25,' the brokerage company's average earnings per share (EPS) over the last three years stood at Rs 7.26, with an average return on net worth (RoNW) of 14.01%. Based on FY25 annualised earnings, the IPO is priced at a price-to-earnings (P/E) ratio of 22.93, and 36.74 based on FY24 earnings, according to the brokerage. ADVERTISEMENT PL Capital Markets is managing the IPO, while Link Intime has been appointed as the registrar. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
9 minutes ago
- Economic Times
Zetwerk founders raise personal debt to infuse Rs 600 crore in company
Amrit Acharya and Srinath Ramakkrushnan, the founders of Zetwerk, are investing Rs 600 crore in the business-to-business manufacturing startup, people in the know said. The two founders have raised a personal debt to infuse this capital in Zetwerk, which will see their combined stake in the company go up by 2%, one of the persons said."The founders have personally raised debt to inject additional equity into the company, resulting in their combined stake increasing by just over 2%," the person said, adding that the fund infusion in Zetwerk is happening through a newly created entity, Creovate Innovations Pvt Ltd. Zetwerk's founders are boosting their stake ahead of a planned IPO, joining a growing list of new-age entrepreneurs doing the same. 'IPO preparations are going on and the company should be in a place to list by the end of this fiscal or early FY27,' another person said. Recently, Lenskart founder and CEO Peyush Bansal raised debt to buy a stake of around 2.5% in the omnichannel eyewear retailer from various investors, including SoftBank, Chiratae Ventures, TR Capital, and Kedaara Capital, for Rs 222 crore. Also Read: ETtech explainer: Decoding Lenskart's draft prospectus for Rs 8,000 crore IPO Promoters of adtech platform InMobi are also in talks with private credit funds to raise $500 million to buy back stakes from investors such as SoftBank ahead of its proposed public offering, ET had reported in May. Similarly, Zepto founders Aadit Palicha and Kaivalya Vohra are in talks with Edelweiss Alternatives to raise Rs 1,500 crore in debt to increase their stakes in the quick commerce company as it looks to boost domestic ownership. Also Read: Why are late-stage startups relying on private credit before their IPOs? In Zetwerk's case, however, Acharya and Ramakkrushnan are making a primary capital infusion. According to Tracxn, the two founders currently own around 14–15% of the did not comment on the development about Acharya and Ramakkrushnan increasing stake in Zetwerk was reported first by April, Acharya had written a note to Zetwerk's employees saying that as the company started its preparations for an initial public offering, it needed to improve productivity, cut inefficiencies and make sure every unit is in 2018 by IIT alumni Acharya, Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, Zetwerk partners with industrial and consumer businesses to get their products made through a global network of small-scale manufacturers. The company now also operates more than 10 factories in India, the US and free cash flows starting to come in, Acharya had said in his April note that the focus is shifting to where the company should invest next, adding that Zetwerk aims to evolve from a pure-play manufacturing firm to an R&D-first company. Zetwerk is yet to post its FY25 financials. However, it reported a 26% increase in revenue to Rs 14,436 crore in FY24 while its net loss widened nine-fold to Rs 919 crore, including exceptional items of Rs 372 crore.
