Cash Ur Drive files DRHP with NSE Emerge

New Delhi: Cash Ur Drive Marketing, a green media publicity services provider in India, announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. 

The company’s initial public offering comprises a fresh issuance of 35,42,400 Equity Shares and an Offer for Sale of up to 11,37,600 Equity Shares, each with a face value of Rs. 10, through the book-building route. The Offer for Sale is by selling shareholder Parveen K Khanna.

Corporate Capital Ventures is the exclusive Book Running Lead Manager to the offer, and Bigshare Services is the Registrar.

According to DRHP, Cash Ur Drive intends to utilise Rs. 27 crore of the total proceeds from the IPO to fund its working capital requirements and plans to use the remaining capital for general corporate purposes. 

The Noida-headquartered company’s portfolio includes transit media, outdoor media, digital wall painting media, events and promotion, and digital marketing services, all woven into a cohesive strategy aimed at reducing carbon footprints. 

The company's eco-friendly initiatives have secured advertisement rights on 1100 EV buses, coupled with strategic agreements to establish EV charging stations with advertising rights, showcasing Cash Ur Drive's commitment to sustainable practices. The company has secured orders from CREST and HITES for setting up 112 EV charging stations and battery swapping stations for 10 years with advertisement rights on the stations.

Cash Ur Drive has partnered with Cash Ur Drive Electric Vehicles, holding an additional 77 outdoor advertising opportunities on EV charging and battery swapping stations, making a total of 189 EV charging stations and swapping stations. 

Cash Ur Drive registered Rs. 102.63 crore revenue from operations with a profit (PAT) of Rs. 11.83 crore in the fiscal year 2023-24, compared to Rs. 81.89 crore revenue from income and a profit (PAT) of Rs. 5 crores in FY2022-23.