This news came a month after it raised $7 million mix of debt and equity from its US-based parent entity Zoomcar Inc and WeWork India head Karan Virwani.
According to a Ministry of Corporate Affairs (MCA) filing of December 2 accessed by Inc42, Zoomcar Inc bought 70,402 equity shares of Zoomcar for $4.8 million at a premium amount.
The previous MCA filings, which were also accessed by Inc42, stated that Zoomcar had passed a resolution to allot 97,604 equity shares worth $6 million to the parent entity for $69 per share on October 4.
According to business intelligence firm Paper.vc, Zoomcar held a shareholder meeting recently to pass a board resolution that would allow the company to raise $740K from Javant Davar, Monica Davar and Neel Jay Davar of Sandhar Technologies, a global manufacturer of automotive components.
According to MCA filings on December 2 accessed by Inc42, Zoomcar has sought permission to offer 89,44 and 44 unsecured, unlisted and optionally convertible debentures for $246,000 to each of the three investors.
The company has raised close $100 million across series. Its investors include Trifecta Capital, InnoVen Capital, Sequoia Capital, Empire Angels, Mahindra and Mahindra, among others.
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