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Droom Technology Ltd IPO Overview

-  A technology and data science company that facilitates automobile buying and selling online through a combination of an asset-light automobile e-commerce platform along with a technology-driven vertically integrated proprietary ecosystem of products and services for the automobile industry
- The automobile ecommerce platform, which includes website and mobile apps, offers users convenience and a curated experience to buy and sell new and used vehicles and encompasses every element of automobile buying from searching for a vehicle, creating buying requirements, price discovery, booking, certification to purchase and financing and doorstep delivery(Source: Company DRHP)

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Strengths & Risks associated

Top 0 Strengths

  • 1

    Market leader in pure-play automobile e-commerce platform
    The Indian automobile market is impacted due to expensive real estate, high cost of capital, low-trust market, inadequate enforcement of consumer protection laws, absence of large-format modern retail and an unorganized market with a fragmented seller base (Source: GT Report). As a purely online player, Droom is less susceptible to these impediments (Source: Company DRHP)

  • 2

    Technology and data science company offering a superior value proposition to the entire automobile value chain
    The company leverages new-age technologies such as AI, ML, IoT, augmented reality (“AR”) and virtual reality (“VR”) and has adopted a data-driven consultative sales experience.  They provide users with an intuitive interface on various platforms including on iOS, Android, M-Site, desktop and as a widget. As of September 30, 2021, Droom had 14.46 million cumulative downloads of the mobile app (Source: Company DRHP)

  • 3

    Scale driving network effect
    The platform benefits from a virtuous cycle driven by scaled, digital platform and the data and technology leveraged every day. A larger seller base on the platform leads to more selection options and better price discovery for buyers. (Source: GT Report) This helps drive a better experience, greater user engagement on platform and accordingly, greater conversions thereby increasing user loyalty (Source: Company DRHP)

Top 0 risks

  • 1

    Depend on the proprietary technology for critical functions of the business
    Failure to properly maintain or promptly upgrade technology may result in disruptions to or lower quality of services and business, results of operations and financial condition may be materially and adversely affected (Source: Company DRHP)

  • 2

    Business is dependent upon auto dealers willing to transact on the platform
    A reduction in the number of auto dealers on platform would have a material adverse effect on the business, financial condition and results of operations (Source: Company DRHP)


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An Initial Public Offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process where a privately held company becomes a publicly traded company with the initial sale of its stock. An IPO is a tool that companies use to secure capital through investments for future use. In most instances, this investment is used to expand or improve the business.

A price band is a price floor and a cap between which a seller will let buyers place bids on a security, usually during an initial public offering (IPO).

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When applying at a cut-off price, an investor has to pay the highest price while placing the bid. If a company decides the final price lower than the highest price asked for IPO, the remaining amount is returned to the retail investor.

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In other payment options, the bid amount is debited when investors’ bid application is placed with the stock exchanges. Under the ASBA process, the amount will be debited from investors’ bank account to the extent of successful allotment at the time of allotment. Until such allotment, the amount will remain blocked in investors’ bank account.

Application under this facility can be placed only for Book Built Public Issues.

An investor can place maximum of 3 bids in an issue.

The investor with Demat account in ICICIdirect can apply in an IPO by logging in to his ICICIdirect Account. The investor needs to select IPO and then the name of the IPO in which he would like to apply. Given below is the path:

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Investor can apply in the retail section of an IPO through iDirect Portal even if he has a 2-in-1 account (Demat, Trading Accounts) with us and Bank account with third party.

Yes, the investor can revise or withdraw the bids after application. It can be done only once the order is executed. The investor needs to go to the IPO Order Book and select the Transaction Id and then click on Withdraw Application/ Revise Bid. The application in the non- institutional category cannot be withdrawn but can only be revised.

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No, one person cannot apply multiple times with same Demat/PAN for an IPO. If an investor applies in an IPO though multiple applications with same Demat account or same PAN Number, his applications will be rejected.

If an investor would like to place order for multiple applications, he/she can apply with his/her family member's name. But, all eligible family members should have a Demat account and a PAN number.

In cases where issue is over-subscribed, bidding for more than 1 lot from the same account doesn’t help as maximum of only 1 lot can be provided against each application. However, if the investor applies for 1 lot from different accounts, the probability of allocation of shares increases.