Chennai-based electric Kabirdass Motor is planning the first IPO in the auto industry in the last few years. Kabirdass was formed in 2006 to develop and commercialize zero-emission vehicles called XITE. Kabirdass is a portfolio company of Best Cast IT, a leading aluminum casting and machined automobile parts manufacturing company and partnering with major OEMs for supplies. The company is looking to raise around $16 million (Rs 81 crore) through the issue, which includes $4 million (Rs 20 crore) from Best Cast.
Source: Cleantech
