Mann Fleet Partners Limited Files Draft Red Herring Prospectus with SEBI for Initial Public Offering

Mann Fleet Partners Limited, a leading professionally-managed provider of chauffeured car rental and mobility solutions, today announced it has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The proposed Initial Public Offering (IPO) comprises a fresh issue of 64,10,000 equity shares and an offer for sale of up to 16,00,000 equity shares by the promoter selling shareholders, Amrit Pal Singh Mann and Parmjeet Mann, each with a face value of ₹10. The equity shares of the Company are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

The Company intends to utilize the net proceeds from the fresh issue primarily for funding capital expenditure towards the purchase of vehicles, amounting to ₹63.78 crore. A further ₹18.76 crore is allocated for the pre-payment or repayment of certain outstanding borrowings, with the remaining capital being used for general corporate purposes. Khambatta Securities Limited is the sole Book Running Lead Manager to the Issue, and Bigshare Services Private Limited is the Registrar to the Offer.

Headquartered in New Delhi and founded in 1992, Mann Fleet Partners offers a wide array of mobility solutions, including event-based transportation, spot rentals, long-term rentals, and self-drive car leasing. It provides services to a distinguished clientele that includes corporates, governments, embassies, and high-net-worth individuals. The company has an extensive operational footprint, having provided chauffeur services in 83 cities across India, the United Arab Emirates, Saudi Arabia, and England, supported by a mix of owned and vendor-operated fleets. It operates a proprietary fleet of more than 269 vehicles across economy, premium, luxury, minivan, and coach segments.

The Company has a notable history of serving high-profile clients and events. It received appreciation from the Embassy of the United States of America for transport services provided during the visits of President Barack Obama in 2010 and Vice President Joseph R. Biden in 2013, and more recently for Vice President JD Vance. It was also appointed as the official transportation company for the IATA Annual General Meeting and World Air Transport Summit 2025.

For the financial year 2024-25, the Company recorded revenue from operations of ₹95.27 crore with a profit after tax (PAT) of ₹18.64 crore. This compares to a revenue of ₹133.10 crore and a PAT of ₹44.65 crore in the previous financial year, 2023-24. Led by a strong management team with extensive industry experience, Mann Fleet Partners employs over 350 people across its six offices in India.

Source : Equity Bulls

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MannFleetPartners FundRaising IPO DRHP SEBI