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Chatsworth Client ZoomCar Achieves a Public Listing

ZoomCar's Nasdaq listing represented a successful capital markets outcome for a business model targeting the car sharing opportunity across emerging markets including India, Egypt, and Indonesia. The company's position as the world's largest emerging market-focused car sharing marketplace, accessed via a Nasdaq listing through a SPAC merger structure, provided US institutional investor access to a high-growth mobility platform operating in markets with limited car ownership penetration and rapidly growing urban middle-class populations.

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Marcus Magarian
Managing Director
December 1, 2023
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Key Question

What does ZoomCar's Nasdaq listing represent and what is Chatsworth Securities' role in the transaction?

ZoomCar listed on Nasdaq as ZCAR, successfully accessing US institutional capital as the world's largest emerging market-focused car sharing platform with Chatsworth as advisor.

Key Takeaways

- ZoomCar listed on Nasdaq as ZCAR, becoming the world's largest emerging market-focused car sharing platform - The listing gave US institutional investors access to a high-growth mobility platform in markets with limited car ownership penetration - The company operates across India, Egypt, and other emerging markets with rapidly growing urban middle-class populations - The Nasdaq listing represents a successful cross-border capital markets outcome for an emerging market technology company - Chatsworth Securities served as an advisor to ZoomCar as part of its engagement in mobility technology M&A and capital markets

Zoomcar Holdings, Inc. (Nasdaq: ZCAR), the world's largest emerging market-focused car sharing platform, visited the Nasdaq MarketSite in Times Square to ring the Opening Bell. Greg Moran, Co-Founder and CEO, Mohan Ananda, Chairman of the Board, and Madan Menon, COO, marked the occasion by ringing the bell, celebrating a major milestone for the company and its advisors. Zoomcar is the leading marketplace for car sharing in emerging markets, with over 20,000 cars on its technology-driven platform across India, Indonesia, and Egypt. Zoomcar empowers host entrepreneurs to safely and easily share their cars to earn additional passive income. Chatsworth Securities LLC, led by Swatick Majumdar, served as advisor on this transaction. The ZoomCar public listing represents a significant achievement for Chatsworth's capital markets practice, demonstrating the firm's ability to guide technology companies through the full process from private advisory to public market execution. This listing reflects the continued global appetite for technology-enabled platforms in high-growth emerging markets, and Chatsworth's commitment to advising innovative companies at inflection points in their development.
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Chatsworth View

ZoomCar's Nasdaq listing represented a successful capital markets outcome for a business model targeting the car sharing opportunity across emerging markets including India, Egypt, and Indonesia. The company's position as the world's largest emerging market-focused car sharing marketplace, accessed via a Nasdaq listing through a SPAC merger structure, provided US institutional investor access to a high-growth mobility platform operating in markets with limited car ownership penetration and rapidly growing urban middle-class populations.

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