Mann Fleet Partners files for IPO with SEBI
Mann Fleet Partners has filed its draft papers with markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The proposed IPO comprises a fresh issue of 64.10 lakh equity shares and an Offer For Sale (OFS) of up to 16 lakh equity shares by promoters Amrit Pal Singh Mann and Parmjeet Mann.
The company plans to use the proceeds from the fresh issue worth Rs 63.78 crore for purchasing vehicles, Rs 18.76 crore for payment of debt and the rest for general corporate purposes. To assist the public offering, Khambatta Securities has been appointed as the sole book-running lead manager. The equity shares are proposed to be listed on both the National Stock Exchange (NSE) and the BSE.
Mann Fleet Partners offers a comprehensive range of mobility solutions, including event-based transportation, long-term rentals, spot rentals, and self-drive car leasing. Its clientele includes corporates, government agencies, embassies, and high-net-worth individuals.
