- Mann Fleet Partners filed draft papers for an IPO with the markets regulator
- The IPO includes a fresh issue of 60.12 lakh shares and an OFS of 19.10 lakh shares
- Proceeds from the fresh issue will be used for debt repayment and corporate purposes
Chauffeured car rental and mobility solutions provider, Mann Fleet Partners, has filed draft papers with markets regulator to garner funds through an Initial Public Offering (IPO).
The proposed IPO comprises a fresh issue of 60.12 lakh equity shares and an Offer-For-Sale (OFS) of up to 19.10 lakh equity shares by promoters and individual shareholders, according to the draft red herring prospectus (DRHP) filed on Monday.
The company plans to use the proceeds from the fresh issue for debt payment and general corporate purposes.
Mann Fleet Partners is engaged in the business of providing economy, premium, and luxury car and coach rental services, delivering transportation solutions to corporates, governments, embassies, travel agencies, event management organisations and retail clients.
It operated a chauffeur service network spanning 86 cities across 6 countries, including India, the United Arab Emirates, Saudi Arabia, the United States of America, Sri Lanka, and England. While rapidly expanding internationally, it maintains an extensive domestic footprint, serving 80 cities across India.
Khambatta Securities is the sole book-running lead manager of the issue, while Bigshare Services is the registrar. The stock will be listed on the National Stock Exchange (NSE) and the BSE.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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