Cash Ur Drive Marketing files draft papers with NSE Emerge to mobilise funds via IPO

Cash Ur Drive Marketing Ltd., a green media publicity services provider, on Thursday filed draft papers with NSE Emerge to raise funds through an initial public offering.

The Noida-headquartered company's IPO consists of a fresh issue of 35.42 lakh equity shares and an Offer for Sale (OFS) of up to 11.37 lakh equity shares by a selling shareholder, Parveen K Khanna, according to the draft red herring prospectus (DRHP).

As per the draft papers, proceeds from the fresh issue to the tune of ₹27 crore will be used to fund the company's working capital requirements and remaining capital for general corporate purposes.

Founded by an IIT alumnus, Raghu Khanna, Cash Ur Drive'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 currently holds advertisement rights for 1,100 EV buses, besides securing orders for setting up 189 EV charging stations and EV battery swapping stations in premium locations.

The company has partnered with several government campaigns, such as Prayagraj Ardh Kumbh Mela-2019, Pravasi Bhartiya Divas-2019, Pariksha Par Charcha-2021, Bicycle Shelters for G-20 Campaign-2023, National Mission for Clean Ganga, PM Mudra Yojana and Swachh Bharat Abhiyan. Also, it has worked with IPL teams like Punjab Kings and Gujarat Lions.

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

Corporate Capital Ventures is the sole book-running lead manager to the offer, and Bigshare Services Private Limited is the registrar for the issue.