Mann Fleet Partners Plans Rs. 80.1 Lakh-Share IPO

By Jony Shekhawat | Published Date : October 07, 2025

Mann Fleet Partners Targets IPO for Fleet Growth

Mann Fleet Partners Limited, a known name in car rental and travel service, is now taking for big step. The company filed papers for its Rs. 80.1 lakh-share IPO to grow more bus and mini bus fleet and to pay off some old loans. The IPO will come on both big Indian stock exchanges.

IPO Plan and Fund Use

Table Of Contents

1. IPO Plan and Fund Use

2. Company Background

3. Fleet and Reach

4. Big Events and Clients

5. Financial Report and Future Plan

6. IPO Booking Process

7. Conclusion

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The company will offer around 64.1 lakh new shares and sell 16 lakh shares from promoters Amrit Pal Singh Mann and Parmjeet Mann. Each share value is Rs. 10. Money from the IPO will go mostly for buying new vehicles like a 24-seater bus, a 40-seater bus, a school bus, and a few electric bus models for fleet upgrade.

Around Rs. 63.78 crore will go for new vehicle buying and Rs. 18.76 crore for paying company debt. Rest amount for regular office work.

Company Background

Mann Fleet Partners started in 1992, main office in New Delhi. The company gives car rental, event transport, long-term hire, and self-drive services. They work for big offices, embassies, and government people. Now the company is also running bus service and mini bus rental for events and travel groups.

Fleet and Reach

The company has its own fleet of more than 269 vehicles – including small cars, luxury vans, and different types of buses. They work in 83 cities in India and also some outside countries like the UAE, Saudi Arabia, and England. Their fleet mix now also includes electric bus options for green travel.

Big Events and Clients

Mann Fleet Partners has done big work too. They manage transport for VVIPs and big summits. The company got a thank-you letter from the US Embassy during the visits of President Obama and Vice President Biden.

Recently, they also managed electric buses and a school bus fleet during the World Air Transport Meeting in 2025.

Financial Report and Future Plan

In the year 2024-25, the company made Rs. 95.27 crore revenue and Rs. 18.64 crore profit. This is lower than last year when they earned Rs. 133.10 crore and profit Rs. 44.65 crore.

Still, the company believes that after the IPO and new electric bus fleet, business will grow again. The company has more than 350 employees working in six offices in India.

IPO Booking Process

IPO will follow a book-built process. Half shares for big institutional buyers, 35% for retail people, and 15% for others. The exact IPO date and price will come soon after all approvals are done.

Conclusion

Mann Fleet Partners is moving fast to grow its bus and minibus service. With electric buses and 40-seater buses, the company wants to make travel smart, clean, and safe. The IPO will help the company expand its fleet and open more routes across India.

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Frequently Asked Questions on Commercial Vehicles

Q1. What type of electric bus models will Mann Fleet Partners add after IPO?

Ans. The company plans to add different types, like 24-seater electric buses, school buses, and 40-seater long-route buses, to make the fleet green and modern.

Q2. Why is Mann Fleet Partners investing in electric buses now?

Ans. Because electric buses are cheaper to run, produce less pollution, and give better comfort on city and school routes.

Q3. How will electric buses help the company’s business?

Ans. These buses will cut fuel costs, improve brand image, and attract more corporate and government clients.

Q4. Is the company already using electric buses?

Ans. Yes, a few electric bus models are already running on test routes in Delhi and nearby cities, and more will come after IPO funding.

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