Mann Fleet Partners Drives Towards IPO with Ambitious Expansion Plans
Mann Fleet Partners Ltd, a chauffeured car rental company, plans to raise funds via an IPO, offering 64.10 lakh fresh shares and 16 lakh from promoters. Proceeds will fund vehicle purchases and debt payment. Established in 1992, it operates across India and globally with a diverse fleet serving various clients.
- Country:
- India
Chauffeured car rental and mobility solutions provider Mann Fleet Partners Ltd has filed draft papers with market regulator Sebi to raise funds through an Initial Public Offering (IPO).
The IPO involves a fresh issue of 64.10 lakh equity shares, alongside an Offer For Sale from promoters Amrit Pal Singh Mann and Parmjeet Mann.
The company will use the proceeds primarily for vehicle purchases, debt repayment, and general corporate needs. Founded in 1992, Mann Fleet Partners operates in 83 cities, including New Delhi, offering a range of services with over 269 vehicles.
The company has played a significant role in high-profile events, such as providing transportation for visits by Barack Obama and JD Vance. Recently, it was appointed the official transportation provider for the IATA Annual General Meeting 2025.
Employing over 350 staff, Mann Fleet Partners reported a revenue of Rs 95.27 crore and a PAT of Rs 18.64 crore for the fiscal year 2024-25.
Khambatta Securities has been appointed as the sole book-running lead manager for the offering, with plans to list shares on both the NSE and BSE.
(With inputs from agencies.)
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