IPO Alert: Mann Fleet Partners Files Draft Papers with SEBI to Raise Funds

Mann Fleet Partners Ltd, a chauffeured car rental and mobility solutions company, has filed draft documents with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). 

The issue includes a fresh issue of 64.10 lakh equity shares and an Offer For Sale (OFS) of up to 16 lakh equity shares by promoters Amrit Pal Singh Mann and Parmjeet Mann.

Use of Proceeds

According to the filing, ₹63.78 crore from the fresh issue will be used to purchase vehicles, while ₹18.76 crore will go towards repayment of debt. The balance will be allocated for general corporate purposes.

Company Background

Established in 1992 and based in New Delhi, Mann Fleet Partners provides a wide range of mobility solutions. Its services include event-based transportation, long-term rentals, spot rentals, and self-drive leasing. The company serves corporations, government agencies, embassies, and individual clients.

Operations and Reach

The company operates chauffeur services across 83 cities in India, the UAE, Saudi Arabia, and England. It manages a fleet of more than 269 vehicles, which include economy, premium, luxury, minivans, and coaches. Mann Fleet Partners employs over 350 people and has six offices across India.

Notable Assignments

The company has been associated with high-profile events, including transport arrangements for former U.S. President Barack Obama and U.S. Vice President JD Vance during their visits. It has also been appointed as the official transportation provider for the IATA Annual General Meeting and World Air Transport Summit 2025.

For the financial year 2024-25, Mann Fleet Partners reported revenue from operations of ₹95.27 crore and a Profit After Tax (PAT) of ₹18.64 crore.

Listing and Management

Khambatta Securities is acting as the sole book-running lead manager for the IPO. The shares are proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Read More: Upcoming IPOs This Week (Oct 6–10): Tata Capital & More Open for Bidding!

Conclusion

The IPO process, once cleared, will help Mann Fleet Partners expand its fleet, reduce borrowings, and fund corporate requirements.

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