Droom Technology IPO
Droom Technology IPO was proposed as a Mainboard book-built issue of ₹3,000 crore, comprising a Fresh Issue of up to ₹2,000 crore and an Offer for Sale of up to ₹1,000 crore. The price band, lot size and IPO dates were not announced, and the original 2021
Droom Technology IPO Details
Droom Technology Limited is an automobile e-commerce and technology company that operates a digital platform for buying and selling new and used vehicles. Its platform supports vehicle discovery, price discovery, booking, certification, financing and doorstep delivery, along with technology-driven services for automobile buyers and sellers. Droom filed its original DRHP with SEBI in November 2021 for a proposed ₹3,000 crore IPO comprising a fresh issue of up to ₹2,000 crore and an Offer for Sale of up to ₹1,000 crore. The filing was subsequently withdrawn in October 2022, while the company later indicated that it intended to revive its IPO plans.
Droom Technology IPO Timeline (Tentative)
The Droom IPO does not currently have confirmed opening, closing, allotment or listing dates. The company's original DRHP was filed with SEBI on November 12, 2021, but SEBI records show that the filing was withdrawn on October 12, 2022. Droom subsequently stated in January 2025 that it intended to refile its IPO papers, but a new publicly filed DRHP with finalized dates was not available in the sources reviewed.
| Event | Tentative Date |
|---|---|
| IPO Opens | |
| IPO Closes | |
| Basis of Allotment | |
| Refund Initiation | |
| Credit of Shares to Demat | |
| Listing Date |
Droom Technology IPO Lot Size
The Droom IPO price band and minimum bid lot were not disclosed in the original DRHP. The document stated that the price band and minimum bid lot size would be decided by the company in consultation with the Book Running Lead Managers. As no final price band or lot size has been announced for a revived issue, the application quantities and investment amounts are left blank.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
Droom Technology IPO Reservation
The proposed Droom IPO was structured with a minimum of 75% of the Net Offer reserved for Qualified Institutional Buyers, not more than 15% for Non-Institutional Bidders and not more than 10% for Retail Individual Bidders. These were the allocation provisions disclosed in the 2021 DRHP.
Droom Technology IPO Subscription
The Droom IPO is not currently open for public subscription. Therefore, no official QIB, NII, Retail or overall subscription figures are available. The subscription table will be updated when a future IPO opens for bidding.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About Droom Technology
Droom Technology Limited operates an automobile e-commerce platform designed to facilitate the online buying and selling of new and used vehicles. The company's platform provides services covering vehicle search, buying requirements, price discovery, booking, certification, financing and doorstep delivery. The company was incorporated in 2014 by Sandeep Aggarwal and subsequently developed a technology-driven ecosystem for automobile transactions.
Droom's platform has historically included services such as vehicle inspection and certification, financing, insurance and technology-enabled transaction support. According to information disclosed around its original IPO, the company had more than 20,000 auto dealers from over 1,150 cities and approximately 14.20 million app downloads as of FY2021.
The company has also sought to expand beyond its core marketplace through services and technology supporting the automobile ecosystem. Its 2021 IPO documents proposed using fresh issue proceeds for organic and inorganic growth, including expansion into Tier III and Tier IV cities, international expansion, acquisitions, marketing and branding activities.
Strengths
- Technology-enabled automobile marketplace covering new and used vehicles.
- Integrated ecosystem supporting vehicle discovery, pricing, financing, certification and delivery.
- Presence of a large dealer network across Indian cities.
- Technology and data-science capabilities focused on automobile transactions.
- Potential for expansion into additional cities, categories and automobile-related services.
- Established operating history since 2014.
Risks to Consider
- The company has historically reported losses.
- The automobile marketplace business is competitive and depends on continued transaction growth.
- Changes in consumer demand for new and used vehicles can affect transaction volumes.
- Technology platform disruptions, cybersecurity incidents or data-security issues could affect operations.
- Expansion into new markets and services requires additional investment and execution.
- The original IPO filing was withdrawn, and the terms of any future IPO may differ materially from the 2021 proposal.
Droom Technology Financials (₹ Cr)
Droom reported a decline in revenue from operations during FY2021 compared with FY2020, while its loss narrowed during the same period. Revenue from operations was ₹125.33 crore in FY2021 compared with ₹172.17 crore in FY2020 and ₹135.97 crore in FY2019. The company reported a loss after tax of ₹68.88 crore in FY2021, ₹89.60 crore in FY2020 and ₹105.37 crore in FY2019.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2021 | ₹125.33 Cr | -₹68.88 Cr | ||
| FY2020 | ₹172.17 Cr | -₹89.60 Cr | ||
| FY2019 | ₹135.97 Cr | -₹105.37 Cr |
KPIs & Valuation
Droom reported negative earnings during the financial years covered by its original DRHP. Basic and diluted EPS was -₹5.21 for FY2021, compared with -₹7.04 in FY2020 and -₹10.12 in FY2019. As the IPO price band was not disclosed, P/E and market-cap based IPO valuation figures cannot be calculated.
Objects of the Issue
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Funding organic growth initiatives, including expansion into Tier III and Tier IV cities and international markets.
- Funding inorganic growth initiatives, including strategic acquisitions.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Droom Technology's original IPO was promoted by Sandeep Aggarwal and Droom Pte. Ltd. The 2021 DRHP named Axis Capital Limited, ICICI Securities Limited, Edelweiss Financial Services Limited, HSBC Securities and Capital Markets (India) Private Limited and Nomura Financial Advisory and Securities (India) Private Limited as the Book Running Lead Managers. KFin Technologies Limited was appointed as the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | +91 40 67162222 |
| einward.ris@kfintech.com | |
| Website | www.kfintech.com |
Droom Technology IPO Review
Droom Technology operates an automobile-focused digital marketplace that brings vehicle discovery, buying and selling together with supporting services such as financing, certification and delivery. The company has positioned its platform around technology and data science, with the objective of simplifying several stages of automobile transactions. Its original IPO filing reflected an attempt to scale this model through additional geographic expansion and investment in the broader automobile ecosystem.
The original proposed IPO consisted of a ₹2,000 crore fresh issue and a ₹1,000 crore Offer for Sale, taking the proposed issue size to ₹3,000 crore. Fresh issue proceeds were intended to support organic growth, including expansion into Tier III and Tier IV cities and international markets, while ₹400 crore was earmarked for inorganic growth initiatives. The company had also disclosed the possibility of a ₹400 crore pre-IPO placement, with any amount raised through that route being reduced from the fresh issue size, subject to applicable requirements.
Droom's financial record in the original IPO period also shows that profitability was a key consideration. Revenue from operations was ₹125.33 crore in FY2021 compared with ₹172.17 crore in FY2020, while the loss after tax narrowed to ₹68.88 crore from ₹89.60 crore. More recently, Droom has indicated that it has been restructuring its business and working toward improved profitability before reviving its IPO plans. However, because the original DRHP was withdrawn and a new public DRHP with final IPO terms has not been verified, the historical ₹3,000 crore structure should not be treated as the final terms of a future Droom IPO.
How to Apply
Droom IPO applications can be made through ASBA or UPI if and when the company launches a fresh public issue. Since the current IPO price band, lot size and bidding dates have not been announced, investors will need to use the final issue details published in the RHP and exchange notices when a future Droom IPO opens for subscription.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Droom IPO when it becomes available for bidding.
- Enter the number of lots based on the final lot size.
- Select the bid price within the announced price band.
- Retail investors may select the Cut-off option where available.
- Enter your valid UPI ID linked to your bank account.
- Submit the IPO application.
- Open your UPI application when the mandate request is received.
- Approve the UPI mandate using your UPI PIN.
- The application amount will be blocked in the linked bank account.
- If shares are allotted, the required amount will be debited and shares will be credited to the demat account; otherwise, the blocked amount will be released according to the applicable IPO process.
Prospectus & Documents
Investors can refer to the original Droom Technology DRHP for details of the proposed 2021 IPO, including the business, financial information, risk factors, issue structure and objects of the issue. The original filing was submitted in November 2021 and was subsequently withdrawn in October 2022. A future IPO, if filed, may contain revised issue terms and updated financial information.
Last updated Sep 29, 2026.