Car rental platform Zoomcar Ltd. has completed its merger with a special purpose acquisition company and will trade on the Nasdaq on Friday.
The Bengaluru-headquartered company has merged with Innovative International Acquisition Corp., and the combined entity is now named Zoomcar Holdings Inc. It expects to begin trading on the Nasdaq under the ticker symbol 'ZCAR', according to a statement.
"This marks the beginning of an important new phase in our company's growth as we embark on reaching new heights for our emerging market-focused peer-to-peer car-sharing platform," Zoomcar Chief Executive Officer Greg Moran said.
Zoomcar and Innovative International entered into a definitive merger agreement in October last year. It was founded 10 years ago and its main markets are India, Indonesia and Egypt. The company claims to have over 25,000 cars on its platform.
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