Droom Technology Ltd , an online marketplace for automobiles, has filed draft papers with the Securities Exchange Board of India (Sebi) to raise around ₹3,000 crore ($403 million) through an initial public offering (IPO)The issue comprises a fresh issuance of equity shares worth ₹2,000 crore and an offer for sale of up to ₹1,000 crore by promoter Droom Pte Ltd, which holds 100% stake in Droom Technology, according to the draft red herring prospectus (DRHP). The company may consider a pre-IPO sale of up to ₹400 crore worth of shares, as per the DRHP.

Source: Mint November 13, 2021 02:46 UTC