Mann Fleet Partners Gears Up for IPO: Chauffeured Car Rental Firm Files Draft Papers with SEBI
Mann Fleet Partners Ltd, a chauffeured car rental and mobility solutions company, has filed draft papers with SEBI for an IPO. The offering includes a fresh issue of 64.10 lakh equity shares and an OFS of up to 16 lakh shares by promoters. Funds will be used for vehicle purchases, debt repayment, and general corporate purposes. The company operates in 83 cities across India, UAE, Saudi Arabia, and England with over 269 vehicles and 350 employees. Mann Fleet Partners reported revenue of ₹95.27 crore and PAT of ₹18.64 crore. Khambatta Securities is the sole book running lead manager, with listing proposed on NSE and BSE.

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Mann Fleet Partners Ltd, a prominent player in the chauffeured car rental and mobility solutions sector, has taken a significant step towards going public by filing draft papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
IPO Structure and Fund Utilization
The proposed IPO comprises two components:
- A fresh issue of 64.10 lakh equity shares
- An Offer For Sale (OFS) of up to 16 lakh equity shares by promoters Amrit Pal Singh Mann and Parmjeet Mann
The company has outlined its plans for utilizing the funds raised through the fresh issue:
Purpose | Amount (in crore) |
---|---|
Purchasing vehicles | 63.78 |
Debt repayment | 18.76 |
General corporate purposes | Remainder |
Company Overview
Established in 1992 and headquartered in New Delhi, Mann Fleet Partners has built a substantial presence in the mobility solutions industry:
- Operational Reach: 83 cities across India, UAE, Saudi Arabia, and England
- Fleet Size: Over 269 vehicles
- Workforce: More than 350 employees across six offices in India
- Client Base: Corporates, government agencies, embassies, and high-net-worth individuals
- Notable Assignments: Handled transportation for visits by Barack Obama and Vice President JD Vance
Financial Performance
Mann Fleet Partners reported the following financial results:
Metric | Amount (in crore) |
---|---|
Revenue | 95.27 |
Profit After Tax (PAT) | 18.64 |
IPO Details
- Book Running Lead Manager: Khambatta Securities (sole)
- Proposed Listing: National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)
This IPO marks a significant milestone for Mann Fleet Partners, potentially providing the company with the capital needed to expand its fleet and reduce debt. For investors, it offers an opportunity to participate in the growth of a well-established player in the chauffeured car rental and mobility solutions sector.
As the IPO process unfolds, potential investors should carefully review the company's financials, growth strategy, and risk factors outlined in the draft red herring prospectus (DRHP) once it becomes publicly available.
Note: All financial figures and details are based on the information provided in the draft IPO papers filed with SEBI. Investors are advised to conduct their own research and consult financial advisors before making investment decisions.