A Rs 12-crore IPO for Resourceful Automobile, a Delhi-based two-wheeler dealer with two showrooms and eight employees is being looked at a curious case of receiving uncharacteristically high subscription figures for a small-scale enterprise. 

The dealership has received bids worth about INR 4.8 billion amounting to an over subscription of almost 400 times. Raising eyebrows in the ‘Dalal Street’, the offer’s merchant banker – Swastika Investmart – is said to be busy managing all the attention the respective IPO has garnered. 

The dealership IPO – offering a 1.02 billion shares at a fixed price of INR 117 – received bids aggregating nearly 40.8 crore shares, translating to 398 times subscription by its end on 26 August 2024. The IPO opened on 22 August 2024. 

Curious yet, most of those who subscribed were retail investors with an aggregate demand at 241 million shares, translating to a subscription nearly 500 times the retail portion in the offer.

The merchant banker for the IPO marketed it like any other IPO it would. However, the total demand for high-net-worth investors was roughly 150 times the total offer size whereas the institutional part was subscribed a modest 12 times. 

The strong subscription demand was clearly beyond expectation, mentioned an industry source aware of the development. There was no reason for such high numbers, he added. The surprising parts about the dealership is, it is claimed to have a negative cash flow. 

South Korean lubricant maker Daewoo has re-entered the Indian automotive market under a strategic licensing collaboration with Mangali Industries.

With this association, Mangali Industries will introduce Daewoo’s range of lubricants for the two-wheelers, passenger cars, commercial vehicles and agriculture segments.

Vineet Singh, Director - Strategy & Growth, Daewoo, said, “Daewoo has always stood for innovation, trust and performance. Through this powerful alliance between Daewoo and Mangali Industries, we are shaping the future of high-performance lubricants in one of the world’s most dynamic and demanding markets. With this launch, we embark on a long-term journey dedicated to empowering the Indian automotive industry.”

Sang-hwan Oh, DGM, POSCO – Korea, shared his views on Daewoo’s dedication to quality and customer satisfaction, ensuring that every product meets rigorous international standards while adapting to evolving demands of local consumers.

German technology and services company Bosch has launched Supply Chain Studio, a cloud-based suite of tools aimed at enhancing supply chain efficiency and visibility.

The announcement was made at the first-ever Mobility Platform and Solutions’ (MPS) Summit 2025. It aims to address key gaps in transport & warehouse management and last-mile operations among others.

Bosch Supply Chain Studio will allow seamless integration with ERPs and third-party marketplaces to meet diverse operational needs. It offers solutions such as transport booking & management, warehouse booking, smart warehouse, bay & yard manager and e-distributor.

In addition, Bosch MPS also introduced the ARC Partner Program – Accelerate, Rise, Collaborate, which it shared will foster co-innovation with partners across logistics, EV mobility, supply chain tech and parking management.

Sandeep Nelamangala, Joint Managing Director, Bosch & President, Bosch Mobility India, said, “The Bosch MPS Summit reflects the collaborative spirit driving the future of mobility. Launching the Supply Chain Studio here allowed us to bring all key stakeholders – manufacturers, transporters, warehouse operators and distributors – onto one platform. We’re excited to work with them and continue driving digitalisation in our supply chains.”

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Banner Batteries, one of Europe’s leading manufacturers of original equipment batteries, has appointed Andrew Russell as its new Business Development Manager for Northern England and Scotland. The appointment is in line with Banner’s strategy to increase its market share in these key regions.

Russell will be responsible for enhancing connections with Banner's extensive clientele, which includes motor factors, independent distributors, garages, and specialty automobile parts stores. He will report to Country Manager Lee Quinney. Russell brings with him over two decades of experience in the UK aftermarket sector. Russell, who graduated from the University of the West of England with a BA (Hons) in Business Administration, began his career in retail management before switching to sales. Prior to joining Banner, he was Ring Automotive's Business Development Manager, where he was named the company's top salesperson in 2023. Account management, company development and building enduring connections with customers are his strong points.

Russell said, “I am delighted to get the opportunity to work for Banner, not only as they are one of Europe’s leading manufacturers of original equipment batteries, but a family-owned business. In order to continue to develop Banner’s market penetration across what is an important sales territory, I shall be looking to focus on four key principles – promoting O/E product quality aligned to price competitiveness, delivering outstanding levels of customer service and developing long-standing and successful customer relationships.”

Quinney said, “The whole team at Banner is delighted to welcome Andrew into the fold. He has a proven track record in the automotive aftermarket, and we are confident this will prove instrumental in strengthening Banner’s position across Scotland and the north, both of which are important strategic territories. Supplying a first-class service to our customer base remains one of our main priorities, together with promoting Banner’s original equipment pedigree, and Andrew will help spearhead this moving forwards.”

Manba Finance Limited, a NBFC, has announced a strategic alliance with BGauss Auto, Fin Coopers Capital and ProsParity to drive a shift towards sustainable mobility and empower the aspirations of customers across the country.
The association with BGauss Auto will help Manba Finance Limited to financing the former’s electric vehicles (EVs), making it easier in turn to tap the growing green mobility market. The NBFC company claims to use technology to streamline lending such that it ensures efficiency and transparency. It is said to offer a range of financial solutions for new two-wheelers, three-wheelers, electric two wheelers, electric three wheelers, used cars and to small businesses. 
The alliance with Fin Coopers Capital in vehicle financing would offer Manba Finance the opportunity to leverage the former’s expertise in investment and capital management. 
The association with ProsParity, on the other hand, will provide the company access to an advanced digital platform that streamlines credit flow and enhances loan processing. 
Monil Shah, Executive Director and Chief Business Officer, Manba Finance Limited, said about the development: “Our partnerships with BGauss Auto, Fin Coopers Capital, and ProsParity will help us to strengthen our commitment to delivering innovative and accessible financial solutions. These partnerships enable us to expand our reach, enhance our offerings, and support communities across India with efficient, transparent, and socially responsible services. Together, we aim to empower individuals and businesses, driving positive change and fostering long-term growth."