• Ishaan kakkar

Zoomcar looks to raise over Rs36 Cr after internal cash infusion

Self-drive car rental company Zoomcar is chasing new investments in 2021 as it looks to revive its business after the slowdown in 2020. The company has raised over Rs5 Cr from its parent company Zoomcar Inc, registered in the US, the second such internal infusion in the first 2 months of the year. And it has also made an offer to existing investors to raise further capital and chart a course for revival.

Zoomcar has received the internal cash infusion, by allotting 10,629 equity shares, at a nominal rate of Rs10 per share and a premium of Rs4,957 per share. The total amount of internal cash infusion is Rs5,27,94,243. the company has also offered to issue Series P2 Preference Shares to select investors.

Zoomcar is a Self-Drive car rental service which allows you to rent cars by the hour, day, week, or month. We have a wide variety of cars and many locations, in fact you can find us in your neighbourhood. Basically, we save you the cost and hassle of owning a car while giving you all the good parts: convenience, mobility, and independence.

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