I'm totally new to ZedBoard, so after further surfing, I found
which showed what had to be done.
Now Vivado recognizes the ZedBoard
Sorry for the bother
You can add board files in Vivado. Some Digilent boards don't show up in Vivado on fresh install and have to be added manually in Vivado.
Download the board files, just copy and paste the new board files in old board files folder. Usually found in original vivado installation folder.
Follow Step 3 of this link
A heads-up that the board folder mechanism is deprecated. The prefered option in to list the board file in the Vivado init file.
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Avnet hosts the ZedBoard board definition now. Follow along with this blog to install it.