The IPO comprises a fresh issuance of equity shares worth Rs 250 crore and an Offer For Sale (OFS) of 1.19 crore equity shares by Banyantree Growth Capital II, LLC.
At present, promoters hold a 69.45 per cent stake in
Proceeds of the fresh issue will be used for payment of debt and general corporate purposes.
The Kerala-based company is a leading diversified automotive dealership in the country with a presence across the automotive retail value chain, including the sale of new passenger and commercial vehicles, services and repairs, spare parts distribution, sale of pre-owned passenger vehicles, and facilitation of the sale of third-party financial and insurance products.
It operates passenger vehicle dealerships of
ICICI Securities, Nuvama Wealth Management and Centrum Capital are the book-running lead managers for advising the company on the IPO. The equity shares of the company will be listed on the BSE and NSE.
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