Zoomcar Inc., an India-based car-sharing network, has agreed to go public through a merger with blank-check business Innovative International Acquisition Corp.

Zoomcar offers a private automobile marketplace, with owners listing their vehicles on the platform and consumers renting them by the hour, day, week, or month. The organization, headquartered in Bangalore, operates in over 50 cities across India, Indonesia, Vietnam, and Egypt.

According to the persons who asked not to be identified since the subject isn’t public, the merger with the special purpose acquisition firm suggests a pro forma enterprise value of around $456 million for the business.

Zoomcar and Innovative International representatives declined to comment.

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