Go Mechanic IPO : GoMechanic, a company providing servicing and repair services for passenger vehicles, expects its net revenue to triple to Rs 700 crore by 2027. After this, it will move towards listing on the stock exchange. GoMechanic co-founder and chief executive officer (CEO) Himanshu Arora told PTI that the company currently has about three per cent share in the vehicle servicing market, which it aims to increase to 10 per cent in the next three years.

The brand will reach 700 crores

GoMechanic had generated a revenue of Rs 210 crore in FY23-24, while it generated a revenue of Rs 85 crore in the first quarter of the current financial year. Arora said, “Our market share is currently around three percent and by 2027 it will be around 10 percent. We expect our brand to generate revenue of around Rs 700 crore by 2027. We believe the next natural step in the GoMechanic story will be an initial public offering (IPO).”

125 cities, 800 garages

The company currently offers services through 800 garages in 125 cities and plans to expand to 2,500 garages in 500 cities by 2027. The company is also looking to diversify its offering by entering the two-wheeler and electric vehicle service sector. GoMechanic was acquired by Lifelong Group subsidiary Servizy in March 2023. Investors had decided to sell the firm after irregularities were found in its financial records under its previous management.