Droom looks to raise ₹1,000 cr from share sale early next year

“The company plans to raise up to ₹1,000 crore through the IPO, which will be a mix of primary and secondary share sales,” the person said, adding that the initial public offering could see some of Droom’s existing investors pare their stakes.

“Droom has witnessed a jump in used vehicle sales in H1 2021 due to a few factors, which includes people preferring ownership rather than shared mobility, uncertainties in economic condition due to the pandemic, and less depreciable value of used vehicle versus new vehicle. Most of the buying traffic on Droom came from Delhi, Hyderabad, Jaipur, Mumbai, especially for the petrol + manual variants,” the second person said.

“Droom has built the entire ecosystem around used automobiles for the digital economy, including first-mile services such as Orange Book Value, ECO, History, Discovery, mid-mile such as Financial Services and last-mile such as Droom Velocity for doorstep delivery,” the person said.

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