Saturday, Apr 27 2024 | Time 04:20 Hrs(IST)
image
Business EconomyPosted at: Nov 12 2021 8:54PM


Automobile market place Droom files for IPO to raise up to Rs 3000 cr

New Delhi, Nov 12 (UNI) As the initial public offering (IPO) frenzy continues, Droom Technology has filed preliminary papers with capital market regulator Sebi to raise up to Rs 3,000 crore through the share sale.
As per the draft red herring prospectus (DRHP), the tech and data science driven online automobile ecommerce platform Droom intends to utilise the net proceeds from the fresh issue to fund its organic and inorganic growth initiatives aggregating to Rs 1,150 crore and Rs 400 crore respectively.
The offer comprises of fresh issue of shares aggregating up to Rs 2,000 crore and an offer for sale (OFS) of up to Rs 1,000 crore by promoter Droom Pte Ltd The equity shares of the company will be listed on the two leading bourses BSE and NSE.
The company in consultation with the lead bankers to the issue may consider a further issue of equity shares including a private placement aggregating up to Rs 400 crore. If such placement is completed, the fresh issue size will be reduced, said an industry executive.
ICICI Securities, Axis Capital, Edelweiss Financial Services, HSBC Securities and Capital Markets, and Nomura Financial Advisory and Securities are the book running lead managers to the issue.
Droom facilitates buying and selling of vehicles online through a combination of their asset light e-commerce platform with a vertically integrated ecosystem of products and services for the automobile industry.
For the six months ended September 30, 2021, it saw 89.27 million visits on its website and app, and has 20,725 auto dealers, present in 1,151 cities.
UNI NK GNK 2053
Please log in to get detailed story.
Tags: #Automobile market place Droom files for IPO to raise up to Rs 3000 cr
More News
Sensex nosedives 609 28 pts

Sensex nosedives 609 28 pts

26 Apr 2024 | 5:26 PM

Mumbai, April 26 (UNI) Snapping a winning streak of last five sessions, the BSE Sensex on Friday, the last session of the week, tanked 609.28 pts to settle at 73730.16 amid mixed global cues.

see more..
Maruti Suzuki net profit surges 48 pc to Rs 3,878 crore in Q4

Maruti Suzuki net profit surges 48 pc to Rs 3,878 crore in Q4

26 Apr 2024 | 5:00 PM

New Delhi, April 26 (UNI) On the back of solid volume growth, the country's largest carmaker Maruti Suzuki on Friday reported 47.80% jump in standalone net profit at Rs 3,877.8 crore for January-March period (Q4) of financial year 2023-24.

see more..

Shriram Finance net jumps 57 pc to Rs 2,021 cr in Q4

26 Apr 2024 | 3:52 PM

New Delhi, April 26 (UNI) Shriram Finance on Friday reported 56.91% year-on-year jump in consolidated net profit at Rs 2,021.28 crore for the January-March period (Q4) of financial year 2023-24.

see more..
Maruti Suzuki gets show-cause notice from Legal Metrology dept

Maruti Suzuki gets show-cause notice from Legal Metrology dept

26 Apr 2024 | 2:39 PM

New Delhi, April 26 (UNI) The country's leading carmaker Maruti Suzuki India on Friday said that it has received a show-cause notice from the Legal Metrology office in Rishikesh, Uttarakhand.

see more..

Onkar Kanwar gets Lifetime Achievement Award

26 Apr 2024 | 2:08 PM

Kochi, April 26 (UNI) Chairman of Apollo Tyres Ltd, Onkar Kanwar, has been conferred with the Lifetime Achievement Award at the All India Management Association (AIMA)’s Managing India Awards ceremony.

see more..
image