India, Jan. 28 -- Used car marketplace Droom is looking to file the draft papers for INR 1,000 Cr (about $115 Mn) initial public offering (IPO) by June this year, sources told Inc42.

The IPO offer will comprise a fresh issue as well as an offer for sale, with the fresh issue likely to be over 50% of the offer.

Droom is eyeing a valuation of $1.2 Bn to $1.5 Bn for the IPO and has already finalised two middle market banks for the public issue. Besides, it is in active discussions with one more investment banker, the sources added.

The unicorn is eyeing a listing on the exchanges by November this year.

It is pertinent to note that this will be Droom's second attempt to go public. In late 2021, the startup filed its draft red herring pros...