Monday, March 17, 2025 | 01:12 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Zoomcar Holdings to go public via merger with Innovative International

Zoomcar operates a marketplace for private vehicles, with owners making their cars available on the platform and users able to rent them by the hour, day, week or month

Zoomcar
Premium

Photo: Bloomberg

Mureji Fatunde and Crystal Tse | Bloomberg
Zoomcar Inc., an India-based car-sharing platform, has reached an agreement to go public via a merger with blank-check firm Innovative International Acquisition Corp., according to people familiar with the matter.
 
Zoomcar operates a marketplace for private vehicles, with owners making their cars available on the platform and users able to rent them by the hour, day, week or month. The company, whose headquarters are in Bangalore, operates in more than 50 cities in India, Indonesia, Vietnam and Egypt.

The merger with the special purpose acquisition company implies a pro forma enterprise value of about $456 million for the business, said

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in