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Droom IPO
Droom Ltd.
Droom IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| To be announced | -- | -- | -- |
| Issue Size | IPO Doc |
|---|---|
| 3000.00Cr | DRHP PDF |
About Droom
Founded in
2014
Managing director
Sandeep Aggarwal
Parent organisation
Droom Ltd.
Strengths & Financials of Droom
Strengths
Risks
End-to-end e-commerce platform for buying and selling used vehicles in India.
Purely online player which allows the company to escape expensive real estate, and high cost of capital.
An asset-light and technology-driven platform.
As of September 30, 2021, the company had over 278,807 used vehicles listed across 11 categories present across 1,151 cities in India.
As of September 30, 2021, the company had 14.46 million cumulative downloads of its mobile app.
The company holds a valid patent in the United States for Orange Book Value (OBV), its used vehicle pricing solution.
Other platforms such as its AI-based vehicle inspection service and Droom Credit, an automobile-focused lending platform have been developed entirely in-house.
The number of auto dealers on its platform has increased at a CAGR of 11.57% from 16,175 as of March 31, 2019, to 20,133 as of March 31, 2021, and were 20,725 as of September 30, 2021.
Business heavily reliant on India’s used and new automobile and vehicular services e-commerce industry - any impact on the overall market will likely have an impact on the company’s business.
Inability to add more auto dealers or a reduction in the number of auto dealers on the platform could have a material adverse effect on the business.
There are outstanding legal proceedings involving the company, its directors, promoter, and subsidiaries.
The company intends to utilise a certain amount from the net proceeds of the IPO towards potential acquisitions and strategic initiatives - if there is any shortfall the company may raise requisite capital through means such as internal accruals and/or seeking debt.
Funding requirements are based on internal management estimates and its current business plans have not been appraised by any bank or financial institution.
Demand for used vehicles is subject to seasonal fluctuations.
Limited number of third-party financing partners to fund loans facilitated through its platform
Negative cash flows from operating activities in the three months ended June 30, 2021, and Fiscals 2021, 2020, and 2019.
Droom Financials
*All values are in Rs. Cr
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