Car-sharing platform Zoomcar raises Rs 76 cr from institutional investors

Quick Summary:

In connection with the private placement, the company said it issued an aggregate of 2,137,850 units, with each unit sold at an effective price of USD 4.28 per unit and consisting of one share of common stock, two Series A warrants, each exercisable for one share of common stock at an initial exercise price of USD 4.03 per share.

The proceeds will be used for repayment of approximately USD 3.8 million in debt and the remaining amount for general corporate purposes and working capital needs.

Self-drive car-sharing platform Zoomcar on Friday said it has raised USD 9.15 million (about Rs 76 crore) from institutional investors.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: India

Topics: Zoomcar Domestic Institutional Investors Institutional investors Zoomcar fundraising

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 17:10:46 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 264 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23469870

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 276 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions