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Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12

EntrackrEntrackr · 1y ago
Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12
Medial

Voler Car Limited is set to launch its SME initial public offering (IPO) on February 12, 2025, aiming to raise Rs 27 crore (approximately $3.2 million). According to the press release, the IPO comprises 30,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 85-90 per share. The lot size for the IPO is 1,600 equity shares, requiring a minimum investment of Rs 1,44,000 for investors looking to participate. The SME IPO will be processed through the 100% book-building method. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. GYR Capital Advisors Private Limited is the Book Running Lead Manager of Voler Car IPO, while KFin Technologies Limited is the registrar to the issue. The IPO will be open from February 12, 2025 to February 14, 2025. The issue proceeds will be utilized for funding working capital requirements, general corporate expenses, and IPO-related costs. Founded in 2010 by Pawan Parasrampuria and Vikas Parasrampuria, Voler Car specializes in providing employee transportation services for large MNCs, IT, and ITeS companies across major Indian cities. As per its investor memorandum, the company operates a fleet of over 2,500 vehicles, completing 425,000 trips annually across nine cities in India. During the first six months of the ongoing fiscal year (H1 FY25), Voler Car Limited registered an operating revenue of Rs 21.49 crore with a positive bottom line of Rs 2.48 crore. However, they recorded a revenue of Rs 30.89 crore with a profit of Rs 3.56 crore during the previous fiscal year (FY24).

Rentomojo sets stage for IPO with public entity conversion

EntrackrEntrackr · 12d ago
Rentomojo sets stage for IPO with public entity conversion
Medial

Rentomojo sets stage for IPO with public entity conversion Furniture and appliance rental platform Rentomojo has converted itself into a public limited company ahead of its planned initial public offering (IPO). The company’s board and shareholders have approved the conversion of “Rentomojo Private Limited” into “Rentomojo Limited” by deleting the word “Private” from its name through a special resolution, according to regulatory filings accessed by Entrackr. The development comes as the Bengaluru-based company has reportedly begun preparations for its IPO and is eyeing a public listing around FY27. Founded in 2014, Rentomojo operates at the intersection of consumer tech and lifestyle, offering furniture, appliances, and newer categories such as water purifiers on a rental basis. The company currently serves over 2.2 lakh live subscribers, manages more than 7.7 lakh rental items, and operates across 23 cities through 71 experience stores. In its FY25 press release, the company said that its net rental revenue grew at a CAGR of 48.24% between FY23 and FY25, while EBITDA increased to Rs 118.41 crore in FY25 from Rs 78.23 crore in FY24, reflecting improved operating leverage. Rentomojo has raised over Rs 650 crore across multiple funding rounds, including its latest $25 million round led by Edelweiss. Notable investors in the company include Accel, Chiratae Ventures, Bain Capital, along with Edelweiss Discovery Fund and ValueQuest S.C.A.L.E. Fund. The company is also supported by several banks and NBFCs. The company reported operating revenue of Rs 266 crore in FY25, up 38% from Rs 193 crore in FY24, while its net profit surged 92% to around Rs 43 crore during the same period.

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