The largest multi-brand pre-owned car company in the country and a subsidiary of Mahindra & Mahindra, Mahindra FirstChoice recently said that the company will hit the bourses in the next three years.

According to the M&M president for HR, after markets & corporate services and member of the group executive board Rajeev Dubey, the company has its sight on the IPO option for the Indian market. Dubey also said that the company may hit the capital markets in the next two to three years.

Running ahead with a target of selling 1,00,000 pre-owned cars by FY15 with a target revenue of Rs 2,500 crore, the company is certainly very bullish on the growth of the pre-owned cars segment in the Indian market.

While the company currently has presence in over 80 cities with 125 dealerships, it has plans to add another 75 in the current financial year and will be adding another 100 in the next financial year.

It may be noted here that while the organised segment of the used-car market accounts only for 10% of total used car sales in India, Mahindra FirstChoice stands at the top with a 10% share in the organised market.