Cars24 expects to be eligible to file DRHP by Apr: CFO
Cars24 expects to be eligible to file its draft red herring prospectus (DRHP) by April after completing its reverse flip from Singapore to India, a process that could take six to nine months, its CFO Shivanshu Makkar said.
Via YourStory
In an interview with PTI, Makkar said Cars24, which was incorporated in Singapore in 2015, has received approval for the reverse flip and will file papers for its IPO in India.
"On the IPO, we are a Singapore-based entity. We had set up back in 2015 in Singapore. So, we are re-domiciling right now. It's a reverse flip process, like the process that Flipkart and Myntra did.
"We have gotten our approval from Singapore, and we are filing in India…
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