ZOOMCAR ENTERS INTO A MERGER AGREEMENT WITH INNOVATIVE INTERNATIONAL ACQUISITION CORP
Despite all its challenges, failed models and customer criticism over the past two years, Zoomcar is now on the verge of an IPO.
After being in the news for the past two years for a slew of issues including customer complaints, refunds, pivots and business downturn due to the pandemic, the Bengaluru-based car rental startup has signed a merger deal worth $456 Mn with blank check firm Innovative International Acquisition Corp.
AZB & Partners advised Innovative International Acquisition Corp on India law aspects of the deal. AZB & Partners team comprised of Partners Ashwath Rau and Atreya Bhattacharya, and Senior Associate Pranav Tolani.
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