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Automobile marketplace Droom files Rs 3,000-cr IPO papers

Droom Technology, an online marketplace for automobiles, has filed preliminary papers with capital markets regulator Sebi to raise Rs 3,000 crore through an initial share-sale.

The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 2,000 crore and an offer for sale to the tune of Rs 1,000 crore by promoter Droom Pte Ltd, according to the draft red herring prospectus (DRHP).

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Promoters — Sandeep Aggarwal and Droom Pte Ltd — hold 100 per cent
stake in the company.

The company may consider a private placement of equity shares
aggregating Rs 400 crore. If the pre-IPO placement is undertaken, the
fresh issue size will be reduced.

droom enters electric vehicle space, registers 250% losses

Proceeds from the fresh issue will be utilized to fund organic as well
as inorganic growth initiatives and general corporate purposes.

Droom, which competes with startups such as CarDekho, Cars24, Spinny and
CarTrade, in July, announced that it is raising up to USD 200 million
(over Rs 1,487 crore) in multiple tranches and has already raised a
significant chunk of the amount.

droom ipo: automobile marketplace droom files rs 3,000-cr ipo papers - the economic times

It has previously raised about USD 125 million in funding from investors
including 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 the book
running lead managers to the issue.

droom joins unicorn club with new funding of $200 mn; plans ipo by 2022 - businesstoday

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