The automotive industry in India contributes 7.1% to the GDP, which is expected to increase to about 12% by 2026. The country\u2019s automobile market is seen growing at a compound annual rate of 17.3% and reach \u20b936,72,500 crores by 2026.<\/p>\n\n\n\n
India was the 5th largest car market in the world by sales volume in 2020 and is expected to grow at a CAGR of 17% and reach \u20b943, 27,00 crores by 2026. The used vehicle’s market is expected to grow to \u20b970,83,00 crores, at a rate of 15.7%.<\/p>\n\n\n\n
Droom Technology has filed preliminary papers with capital markets regulator Securities and Exchange Board of India to raise \u20b93,000 crores through an initial share sale. The offering comprises fresh issuance of shares worth \u20b92,000 crores and an offer for sale of shares worth \u20b91,000 crores by promoter Droom Pte Ltd, as per the draft red herring prospectus.<\/p>\n\n\n\n
The company may consider a private placement of equity shares aggregating \u20b9400 crores. If the pre-IPO placement is undertaken, the fresh issue size will be reduced.<\/p>\n\n\n\n
The company plans to use \u20b911,50 crores from the net proceeds towards funding organic growth initiatives. Further, the company will utilize \u20b9400 crores towards strategic business objectives and the remaining funds will be used for general corporate purposes.<\/p>\n\n\n\n
Droom Technology is a technology and data science company that facilitates automobile buying and selling through a combination of asset-light automobile e-commerce platforms and with a technology-driven vertically integrated proprietary ecosystem of products and services for the automobile industry.<\/p>\n\n\n\n
The Gurugram-based company has a complete online transactional model and offers one of the largest selection of automobiles amongst the major online players in India, with over 1.15 million vehicles listed that include used\/new cars, two-wheelers, and other vehicles, as of September 30, 2021.<\/p>\n\n\n\n
The company\u2019s eCommerce platform allows users to buy and sell new and used vehicles and encompasses every element of automobile buying.<\/p>\n\n\n\n
Droom technology competes with other players like CarDekho, Cars24, Spinny, CarTrade, CarWale, FOMO and Carlypso.<\/p>\n\n\n\n
Droom Technology had a consolidated revenue of \u20b9135.5 crores in the year ended March 2021, compared to \u20b9181.3 crores in the previous year. The company suffered a net loss of \u20b968.8 crores compared to a loss of \u20b989.6 crores a year ago.<\/p>\n\n\n\n
The demand for used cars tends to fluctuate between different quarters and individual months, due to unfavourable economic conditions, malfunctions of websites\/apps and special offers from competitors. Also, the government may implement policies for old vehicles that would reduce the demand.<\/p>\n","protected":false},"excerpt":{"rendered":"
The automotive industry in India contributes 7.1% to the GDP, which is expected to increase to about 12% by 2026. The country\u2019s automobile market is seen growing at a compound annual rate of 17.3% and reach \u20b936,72,500 crores by 2026. India was the 5th largest car market in the world by sales volume in 2020 […]<\/p>\n","protected":false},"author":1738,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5748,12,10444,8],"tags":[80,8532,9050,9719],"class_list":["post-126147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-other-industries","category-others","category-technology-stocks","tag-automobile","tag-technology","tag-technology-services","tag-two-wheeler"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":128063,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-landmark-cars-ltd-files-papers-for-initial-public-offering\/","url_meta":{"origin":126147,"position":0},"title":"IPO Alert: Landmark Cars Ltd. files papers for initial public offering","author":"Nishad","date":"March 1, 2022","format":false,"excerpt":"The Indian private vehicle market is estimated to have expanded at a combined annual rate of around 7% since the fiscal year 2016, primarily due to demand growth is driven by improved affordability and the launch of new vehicles models. Sales of private vehicles are expected to grow at 8-10%\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":126192,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-syrma-sgs-technology-files-draft-papers-for-a-public-listing\/","url_meta":{"origin":126147,"position":1},"title":"IPO Alert: Syrma SGS Technology files draft papers for a public listing","author":"Nishad","date":"December 27, 2021","format":false,"excerpt":"India\u2019s total electronics market was valued at \u20b96.7 trillion in fiscal 2021 and is expected to grow at a compound annual rate of 25.5% and reach \u20b920.8 trillion by fiscal 2026. 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It is expected to grow at a compound annual rate of 10.6% and reach \u20b922,300 crores by fiscal 2025. 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