Auto Market Droom files Rs 3,000-c IPO documents, Auto News, ET Auto
The promoters – Sandeep Aggarwal and Droom Pte Ltd – hold 100% of the capital of the company.
The company may consider a private placement of shares totaling Rs 400 crore. If the pre-IPO placement is undertaken, the size of the new issue will be reduced.
Proceeds from the new issue will be used to fund organic and inorganic growth initiatives and general corporate objectives.
Droom, which competes with startups such as CarDekho, Cars24, Spinny and CarTrade, announced in July that it was raising up to $ 200 million (over Rs.1487 crore) in installments and has already raised a significant portion of the amount.
He has already raised around $ 125 million in funding from investors such as Lightbox, Beenext, Digital Garage, Integrated Asset Management, Toyota Tsusho Corporation, and others.
ICICI Securities, Axis Capital, Edelweiss Financial Services, HSBC Securities and Capital Markets (India) Private Limited and Nomura Financial Advisory and Securities (India) Private Limited are principally responsible for the issue.