Mann Fleet Partners has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The proposed IPO comprises a fresh issue of 60.12 lakh equity shares and an Offer-For-Sale (OFS) of 19.10 lakh equity shares by promoters and individual shareholders.
The company plans to use the proceeds from the fresh issue for debt payment and general corporate purposes. Khambatta Securities is the sole book-running lead manager of the issue. The shares of the company are proposed to be listed on BSE and NSE.
Mann Fleet Partners is engaged in the business of providing economy, premium, and luxury car and coach rental services, delivering transportation solutions to corporates, governments, embassies, travel agencies, event management organisations and retail clients.
