Jagdish Khattar would start a multi-brand car sales and service business. He plans to invest Rs 1,000 crore in the next five years. He is a former manager of leading passenger car company, Maruti. Now, he would start his new company, Carnation Auto India Ltd to start a new venture in the multi branded car market. He would get 80-crore investments from Wipro chairman Azim Premji’s PremjiInvest and rest of Rs 28 crore from IFCI Venture Capital Funds to achieve his objective.

Mr. Jagdish Khattar wouls start service and sales network at 100 locations in 65 different cities of India in coming years. These service centers would work through franchise model and joint venture as per suitability. The majority shares in the Carnation Auto India Ltd would be retained by Khattar and the company is valued at Rs 300-350 crore.

Mr. Jagdish Khattar said that he intends to launch six outlets in the National Capital Region, Hyderabad and Cochin and increase the number of outlets in a year time span. He would also start one-stop auto solution hubs that would offer maintenance, insurance, CNG/LPG retro fitment and accessories under a single roof. The company would also set up an automotive training institute to address the needs of trained staff for the company.