Zoomcar Looks Up To Its US-Based Parent Again, Raises $5.5 Mn In A Difficult Market
India, May 12 -- Indian self-drive car rental company Zoomcar has raised another INR 41 Cr ($5.5 Mn) from its US-based parent company Zoomcar Inc. Prior to this, Zoomcar Inc had infused INR 5.27 Cr ($717K) in February and INR 8.27 Cr ($1.1 Mn) in January 2021 in the company, taking the total infusion to INR 54.5 Cr ($7.4 Mn) in 2021.
According to the company's regulatory filing with the ministry of corporate affairs, Zoomcar has allocated 82,566 equity shares to Zoomcar Inc at a face value of INR 10 each and at a price of INR 4,967 ($67.6) per share on right issue basis to raise INR 41,01,05,322 ($5.5 Mn). The shares were allotted to Zoomcar Inc on April 28, 2021.
Zoomcar's previous regulatory filings revealed that it was planning to ra...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.