Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
Mann Fleet Partners Ltd. has refiled a Draft Red Herring Prospectus (DRHP) with SEBI on March 2, 2026 to raise funds through Initial Public Offer (IPO).
The initial submission on June 29, 2026 was withdrawn by company , prompting the company to refile the documents.
Mann Fleet Partners Ltd. IPO is a Book Build Issue of 0.79 crore equity shares consisting of a fresh issue of upto 0.60 crore equity shares and an offer for sale (OFS) of upto 0.19 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. Khambatta Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Mann Fleet Partners IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 79,22,600 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 60,12,000 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 19,10,600 shares of ₹10 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 2,56,29,143 shares |
| Share Holding Post Issue | 3,16,41,143 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Mon, Jun 29, 2026 |
| Filed with SEBI/Exchange | Mon, Sep 29, 2025 |
| Offer document withdrawn | Mon, Mar 2, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Incorporated in August 1992, Mann Fleet Partners Limited is a corporate mobility and ground transportation company providing economy, premium, and luxury car and coach rental services to corporates, government departments, embassies, travel agencies, event management companies, and retail customers. The company offers a comprehensive range of mobility solutions, including airport transfers, employee transportation, corporate events, conferences, exhibitions, outstation travel, hourly rentals, and long-term vehicle rentals.
The company operates an asset-heavy fleet model, owning and managing a proprietary fleet of over 364 vehicles while supplementing capacity through a network of third-party vendors. Its technology-enabled fleet management platforms, TAS and G-Track, enhance operational efficiency, safety, and customer experience. Mann Fleet provides chauffeur-driven services across 80 cities in India and internationally in countries including the UAE, Saudi Arabia, the United States, Sri Lanka, and the United Kingdom, serving numerous corporate clients, including Fortune 500 companies.
With over three decades of industry experience, the company has built a strong reputation for service quality, punctuality, and customer retention while expanding its presence across India.
As of May 31, 2026, Mann Fleet Partners employed 440 personnel, including chauffeurs, operations, maintenance, sales, reservations, billing, IT support, compliance, administration, and other support staff.
Strengths
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 171.08 | 150.24 | 53.67 |
| Total Income | 99.76 | 134.18 | 58.31 |
| Profit After Tax | 18.64 | 44.65 | 8.76 |
| EBITDA | 47.68 | 71.84 | 18.69 |
| NET Worth | 85.00 | 64.20 | 18.65 |
| Reserves and Surplus | 57.65 | 62.43 | 17.39 |
| Total Borrowing | 62.70 | 57.74 | 21.67 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Waterways Leisure Tourism Ltd. | Mainboard | ₹585.00 Cr | ₹808 | 100.96 | ₹668.10 | -17.31% | ₹825.65 (+1.04%) |
| UHM Vacation Ltd. | SME | ₹36.00 Cr | ₹166 | 11.32 | ₹126.20 | -23.98% | ₹39.15 (-5.00%) |
| Western Overseas Study Abroad Ltd. | SME | ₹10.07 Cr | ₹56 | 10.67 | ₹52.16 | -6.86% | ₹17.54 (-8.88%) |
| Helloji Holidays Ltd. | SME | ₹10.97 Cr | ₹118 | 14.07 | ₹123.90 | +5.00% | ₹111.00 (+2.45%) |
| LGT Business Connextions Ltd. | SME | ₹28.09 Cr | ₹107 | 14.38 | ₹81.35 | -23.97% | ₹45.69 (+4.99%) |
| TSC India Ltd. | SME | ₹25.89 Cr | ₹70 | 15.44 | ₹71.40 | +2.00% | ₹29.70 (+0.00%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Pre-payment and/or re-payment, full or in part, of certain outstanding borrowings availed by the Company. | 65.00 |
| 2 | General Corporate Purposes | |
| Total | 65.00 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 15.51% | 21.93% |
| ROCE | 13.49% | 17.03% |
| Debt/Equity | 0.62 | 0.75 |
| RoNW | 15.51% | 21.93% |
| PAT Margin | 19.62% | 19.57% |
| EBITDA Margin | 53.15% | 50.04% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.27 | 5.89 |
| Promoter Holding | 96.61% |
Lead Manager Reports
Mann Fleet Partners IPO is a main-board IPO of 79,22,600 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Mann Fleet Partners IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mann Fleet Partners IPO using UPI as a payment gateway. Zerodha customers can apply in Mann Fleet Partners IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mann Fleet Partners IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mann Fleet Partners IPO dates are not announced. Please check back again after some time.
Mann Fleet Partners IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Mann Fleet Partners IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mann Fleet Partners IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Mann Fleet Partners IPO allotment status.
The Mann Fleet Partners IPO listing date is not yet announced. The tentative date of listing is .
