A Wholly Owned Subsidiary of Limo Group
Investor & Platform Partner Prospectus · 2025

This is what
Limo Mart
puts on the table.

Whether you're writing a cheque or expanding a platform — we've built something specific for you. India's first PropCo-anchored dark store infrastructure company is opening two doors: one for investors who want hard assets and recurring yield, and one for Q-commerce platforms who need Tier 2 presence yesterday.

I'm an Investor → I'm a Q-Commerce Platform →
₹67L
Avg capex per store · lease model
44%
EBITDA margin · steady state
30–45
Days from handshake to live store
4
Platforms served per store simultaneously
🏦 For Investors
Hard assets. Recurring yield. A REIT pipeline nobody else is building.
You're looking at India's first fitted dark store portfolio — real estate that generates DSaaS licence income from 4 platforms simultaneously, appreciates as Q-commerce density grows, and is packaged for a REIT exit by Year 5.
8.5mo
EBITDA payback
₹900Cr
ARR target 2030
3
Exit paths open
↓ See exactly what we're offering investors
⚡ For Q-Commerce Platforms
A live, licensed, staffed dark store in your target Tier 2 pin code. In 30 days.
You've announced Tier 2 expansion. Your city managers are stretched. FSSAI takes 90 days. Landlords don't understand your specs. Limo Mart solves all of it — fitted store, compliance in hand, E2W fleet ready, WMS integrated. You go live in a month.
30
Days to launch
₹0
Capex on your books
10+
Cities ready now
↓ See exactly what we're offering platforms
🏦 For Investors

We're not raising capital.
We're offering a position
in something structural.

Every dark store Limo Mart opens is a hard asset — fitted out, FSSAI-licensed, generating contracted licence income from 4 Q-commerce platforms simultaneously. This is real estate that gets more valuable as India's quick commerce density grows, structured for three concurrent exit paths.

Request Investor Deck → See deal terms ↓

📋 We share the full unit economics, capex breakdown, and 5-year financial model. No teaser — the real numbers.

🏗️
Fitted Dark Store Real Estate — Hard Asset on Your Books
₹52L–₹3.5 Cr per store depending on capital model
Every Limo Mart store is a 2,500 sq ft fitted commercial asset — racked, cold-chained, FSSAI-licensed, EV-charged, WMS-integrated. Under the Own model (Tier 2/3 focus), the property sits on the balance sheet and appreciates as Q-commerce activity in that pin code increases. Under the lease model, you get the income stream without property exposure.
Own model: ₹1.8–3.5 Cr capex · Lease model: ₹52–83L capex · Sale-leaseback model: exit the asset and retain the DSaaS income stream
📄
Contracted DSaaS Licence Income — 4 Platforms, 1 Store
₹6L–₹12L/month base licence fees per store — contracted, recurring
Each store licences its Zone B dark fulfilment bay to up to 4 Q-commerce platforms simultaneously — Blinkit, Zepto, Swiggy Instamart, Amazon Now — at ₹1.5L–₹3L per platform per month. These are contracted recurring fees, not GMV-dependent. Revenue does not disappear if one platform has a bad week.
+ GMV kicker: 0.8–1.5% of platform GMV above ₹15L/month threshold · + Retail revenue from Limo Mart Zone A · + Limo Electric fleet delivery income
📈
44.6% EBITDA Margin at Steady State
₹7.9L EBITDA on ₹17.7L monthly revenue — per store, Month 18+
This is not a projected number — this is the modelled P&L with every cost line fully loaded: rent, 8 FTE salaries via Limo Jobs, COGS on retail, utilities, compliance retainer, HQ overhead allocation. At 44.6% EBITDA, the lease-model capex of ₹67L pays back in approximately 8.5 months of steady-state operations.
Full P&L available in investor deck: revenue by stream, cost by line, EBITDA bridge, depreciation, EBIT, interest, PBT — all shown
🏢
A REIT-Packageable Asset Portfolio
₹670 Cr asset base at 100 stores · 7–9% capitalisation rate
At ₹67L average asset value × 100 fitted dark stores with long-term DSaaS lease contracts attached, the Limo Mart portfolio is structured for a retail infrastructure REIT at a 7–9% cap rate — implying a ₹500–600 Cr REIT valuation at the 100-store milestone. This is the PropCo endgame: build the portfolio, institutionalise the income, list the REIT.
REIT timeline: Phase 4 (300 stores) · BSE SME / NSE Emerge listing also possible at Phase 3 (150 stores) · Strategic acquisition path kept open simultaneously
🔒
Multi-Platform Revenue — No Single-Customer Risk
4–5 platforms per store · Zero single-customer concentration
Even in the scenario where one major Q-commerce platform exits the India market or consolidates, the remaining 3 platforms continue paying their contracted licence fees. The retail revenue layer (Limo Mart Zone A) provides a further income floor entirely independent of Q-commerce platform performance.
Stress test modelled in the investor deck: 1-platform exit, 2-platform exit, full sector slowdown — EBITDA remains positive in all scenarios
⚙️
Limo Group Ecosystem — ₹35–55L Intra-Group Revenue Per Opening
Before the store has processed a single order
Every store opening activates four other Limo Group subsidiaries: OpenADarkStore (₹12–25L fit-out project fee), Limo Jobs (FTE placement fees), Limo Electric (fleet revenue), Limo Energy (charging infra install). This intra-group revenue accelerates overall Limo Group EBITDA independent of the Limo Mart store's own ramp-up trajectory.
Limo Group consolidated model available to institutional investors upon NDA execution
Investor Comparison

What investing in dark store infrastructure looks like — with Limo Mart vs without.

❌ DIY Dark Store Investment
Find a location yourself — 4–8 months of negotiation in Tier 2 cities with no playbook
Navigate FSSAI, fire NOC, trade licence — 60–120 days in small cities, requires local advocates you don't have
Negotiate directly with Blinkit / Zepto — as an unknown landlord with no track record, you have no leverage
Hire and manage store staff yourself — no HR infra, high attrition in Tier 2 markets
Source and manage E2W fleet for delivery — separate capex, separate ops, separate headache
Deploy WMS, POS, CCTV, internet redundancy — vendor selection, implementation, ongoing support all on you
12–18 months to first revenue — and no guarantee a platform actually signs
VS
✅ Invest via Limo Mart
Location pre-scouted and lease signed before you invest — in a pin code with proven Q-commerce demand signals
Full compliance stack handled by Limo Mart compliance team — FSSAI, fire NOC, trade licence, labour registrations all in hand at launch
DSaaS contracts with all 4 platforms pre-negotiated — you inherit contracted income from Day 1, not a speculative pitch
8 FTEs deployed via Limo Jobs — trained, onboarded, managed on Limo Mart's AI-powered HR platform
Limo Electric fleet allocated from the day the store opens — no separate fleet capex or ops overhead
Full tech stack live — WMS, POS, analytics dashboard, Limo Mart app — Limo Mart SaaS, not a bespoke build
30–45 days to first revenue — with a proven playbook from existing stores and 4 platform contracts already running
⚡ For Q-Commerce Platforms

You announced Tier 2 expansion.
We built the stores already.

You have a city expansion mandate and a list of target pin codes. We have fitted, licensed, staffed dark store slots in those pin codes — ready to go live in 30 days. Zero capex on your books. Zero compliance bandwidth needed. One API integration and you're live.

Request a City Coverage Map → See DSaaS pricing ↓

📍 Send us your 2025 city expansion list. We'll tell you exactly which pin codes we can activate immediately — and when the rest will be ready.

📍
A Live Dark Store Slot in Your Target Pin Code
30–45 days from agreement to first order dispatched
Limo Mart pre-scouts locations in Tier 2 and Tier 3 cities based on population density, Q-commerce demand signals, and proximity to high-order-frequency residential clusters. By the time you come to us with a city expansion requirement, we likely already have the best pin code in that city secured — fitted, licensed, and ready.
Cities with immediate availability: Pondicherry, Coimbatore, Vizag, Nashik, Surat, Mangalore, Vadodara, Bhubaneswar, Kochi Fringe · More being added monthly
✅
Full Regulatory Compliance — Zero Platform Bandwidth
FSSAI · Fire NOC · Trade Licence · Labour Registrations · All done
In Tier 2 cities, FSSAI registration alone takes 60–90 days. Fire NOC requires a local advocate and multiple municipal visits. Trade licence varies by state. Shop and Establishment Act registration has its own process. Limo Mart's compliance team handles all 12 licence types across all Indian states — you inherit a fully compliant premises on Day 1 with zero bandwidth spent.
All licences in Limo Mart's name — you operate under DSaaS agreement · Annual renewals managed by Limo Mart · Any compliance issues are our problem, not yours
⚡
WMS Integration — Your Systems, Our Infrastructure
API handshake with your WMS in Week 1 · Inventory sync from Day 1
Every Limo Mart store runs a WMS that integrates via API with your platform's order management and inventory systems. When an order comes in on your app, it routes directly to the Limo Mart picker in Zone B. Inventory levels sync in real time. SLA tracking runs through your existing dashboard. From your ops team's perspective, this store behaves identically to one you own directly.
Integration timeline: 5–7 working days for standard WMS API handshake · Supported: Unicommerce, Increff, Vinculum, and custom APIs · Your SLA metrics, our ops
🛵
E2W Last-Mile Fleet — Limo Electric, Ready at Launch
Riders allocated from Limo Electric hub · ₹18–28 per delivery
The Zone D rider bay in every Limo Mart store is a Limo Electric fleet dock — 4-port EV charging, 24/7 rider availability, Limo Jobs-managed rider onboarding and compliance. You don't need to run a separate fleet recruitment drive in a city where you've never operated. Limo Electric riders are ready from Day 1, trained to your SLA specs.
Fleet pricing: ₹18–28 per delivery depending on distance and order volume · Riders wear Limo Electric livery · can be platform-liveried on request for ₹3/delivery premium
💰
Zero Capex on Your Books. OpEx Only.
Base licence fee + GMV kicker — no real estate, no fit-out, no compliance cost
Q-commerce platforms are valued on asset-light metrics. Real estate capex on your balance sheet compresses your valuation multiples. Limo Mart carries the full capex — the ₹52–83L lease-model fit-out, the cold room, the tech, the compliance, the working capital. You pay a monthly OpEx licence fee — classified as a variable operating cost, not a capital commitment. Your CFO will love this.
DSaaS base licence: ₹1.5L–₹3L/month per store · GMV kicker: 0.8–1.5% of GMV above ₹15L/month · No deposit. No capex. No long-term balance sheet exposure.
🔗
Trained Pick-Pack Staff — Managed by Limo Jobs
8 FTEs per store · AI-recruited · Your SLA protocols · Our HR overhead
Every Limo Mart store has a dedicated Zone B team of pick-pack operatives managed by Limo Jobs — Limo Group's AI-powered gig recruitment and workforce management platform. Staff are trained on your SLA requirements, your pick-pack protocols, and your return handling procedures. Attrition, replacement, payroll, and ESIC/PF compliance are all Limo Jobs' problem, not yours.
Staffing pricing: included in managed service component of DSaaS agreement · ₹25K per FTE per month or ₹8 per order model available · Your brand SLA, our HR infrastructure
Platform Comparison

Expanding into a new Tier 2 city — the old way vs. the Limo Mart way.

❌ Going Direct — Tier 2 City Entry
Send a city manager to find, negotiate, and sign a location — 4–8 months, high failure rate in unfamiliar markets
Wait 60–120 days for FSSAI registration, fire NOC, trade licence — compliance team stretched across 20+ cities simultaneously
Commission and manage a fit-out contractor in a city you've never operated — quality, timeline, and spec adherence all uncertain
Run a separate E2W fleet recruitment drive — onboard riders, set up charging infra, manage attrition in a new market
Source and deploy WMS hardware, CCTV, internet redundancy, cold room — separate procurement in every new city
Hire and train 6–10 pick-pack staff in a market with no existing HR network — 30% first-month attrition is typical
12–18 months to first order dispatched · ₹80L–₹1.5 Cr capex on your books · Platform team burned out across 30 cities
VS
✅ With Limo Mart DSaaS
Location already secured — best pin code in the city, long-term lease signed, Limo Mart already in possession
All licences in hand — FSSAI, fire NOC, trade licence, S&E Act — all active, all compliant, zero days of your team's time
Fit-out already done to Q-commerce spec — racking, cold room, pick-pack bay, barcode infra, CCTV, internet ×2
Limo Electric fleet allocated — riders ready, charging infra live, Limo Jobs-managed, your SLA protocols trained in
Full tech stack live — WMS API integrated with your platform in 5–7 days, inventory sync active from Day 1
8 trained FTEs in Zone B — pick-pack operatives, trained to your protocols, Limo Jobs manages all HR overhead
30–45 days to first order · ₹0 capex on your books · Monthly licence fee only · Your city team never leaves HQ
Deal Terms at a Glance

What we're offering. What we need.
No ambiguity.

Two clean term sheets — one for investors, one for Q-commerce platforms. Full legal documentation follows NDA and preliminary discussion.

🏦 Investor Terms
Investment vehicleLimo Mart (Pvt. Ltd.) equity or store-level SPV
Minimum ticket₹1 Cr (single store SPV) · ₹5 Cr+ (Limo Mart equity)
Current roundSeed · Part of ₹40 Cr Limo Group raise
Pre-money valuationShared under NDA · Indexed to ₹120 Cr Limo Group pre-money
Use of fundsStore fit-out · Working capital · Compliance stack · Tech build
Store-level return44.6% EBITDA margin · 8.5-month EBITDA payback
Revenue structureContracted DSaaS licence fees + retail + fleet (4 streams)
Exit pathsREIT (Y5) · BSE SME / NSE Emerge IPO (Y4) · Strategic M&A
GovernanceBoard seat at ₹5 Cr+ · Observer rights at ₹1 Cr+
ReportingMonthly store P&L · Quarterly consolidated · Annual audit
Lock-in24 months · Tag-along / drag-along rights standard
What we need from youCapital · Network (city landlords, platform relationships) · Patience
⚡ Q-Commerce Platform Terms
Agreement typeDSaaS Licence Agreement (OpEx — not a lease)
Minimum term12 months · Auto-renewing · 90-day exit notice
Base licence fee₹1.5L–₹3L/month per store (city-tier dependent)
GMV kicker0.8–1.5% of GMV above ₹15L/month threshold
Staffing fee₹25K/FTE/month OR ₹8/order — your choice of model
Fleet fee₹18–28/delivery via Limo Electric (distance-banded)
ComplianceZero cost to platform — all licences in Limo Mart name
Capex on your books₹0 — Limo Mart carries all store capex
Tech integrationWMS API handshake — 5–7 working days · No IT cost to you
Launch timeline30–45 days from agreement signing to first order
ExclusivityNon-exclusive · We serve up to 4 platforms per store
What we need from youYour city expansion list · Your WMS API docs · A signed NDA
Straight answers

The questions everyone asks.
The answers we actually give.

We'd rather address your real concerns here than waste time in a meeting.

Investor: "What if a Q-commerce platform exits India or consolidates?"
Each store serves 4 platforms simultaneously. Even if one exits, the remaining three continue paying contracted fees. Additionally, the Limo Mart retail revenue (Zone A) is entirely independent of Q-commerce platform performance. We've modelled the P&L under 1-platform exit, 2-platform exit, and full sector slowdown — EBITDA remains positive in all three scenarios. The store is a multi-tenant asset, not a single-tenant bet.
Platform: "Why can't we just build this ourselves in Tier 2?"
You can. It will take 12–18 months, ₹80L–₹1.5 Cr in capex per city, 2–3 headcount per city across 30 cities, and the compliance process in each state with local advocates you don't have. Meanwhile, Limo Mart has the best pin code in that city leased, fitted, licensed, and staffed — and can go live in 30 days. The question isn't whether you can build it. It's whether the time and capital cost of building it is worth more than our licence fee. Mathematically, it isn't.
Investor: "This is a seed-stage company — where's the proof?"
Fair. We're building the Pondicherry pilot store in Q1 2025 — that's the proof. Every unit economics claim in our model is available for independent diligence. We are not asking you to fund a spreadsheet; we're inviting you to visit a live store, review actual platform DSaaS contracts, and inspect the compliance documentation. The Limo Group parent already operates Limo Electric, Limo Jobs, and OpenADarkStore — this is not a cold start.
Platform: "Non-exclusive means you'll share our pin code with a competitor."
Yes — that's exactly the model, and it's also why it works for you. Because we serve multiple platforms from one store, our operating costs are shared, which means our licence fee is lower than what it would cost you to operate a single-platform store. You get the best pin code, full compliance, trained staff, WMS integration, and E2W fleet — at a price point that would be impossible if we served only you. Blinkit and Zepto coexist on the same DSaaS infrastructure. That's the DSaaS model — and it's the same reason a SaaS company serves competing customers on the same platform.
Investor: "How do you prevent a platform from pulling out and leaving the store empty?"
DSaaS agreements require 90-day exit notice and are structured with 12-month minimum terms. Even if a platform exits, the slot is re-licenced to a competitor or a new entrant — the store doesn't go dark. The Limo Mart retail layer (Zone A) continues generating revenue independently. And because we hold the lease on the best pin code in that city, any platform trying to enter the market after us needs us anyway.
Platform: "What about inventory ownership — do we need to pre-stock the store?"
You retain full inventory ownership in Zone B. Limo Mart provides the physical storage infrastructure (racked, temperature-controlled, barcode-ready), the WMS integration, and the pick-pack staff — but the inventory is yours, managed through your existing supply chain. We don't take inventory risk. We don't mark up your goods. We charge for the infrastructure, the compliance, the staff, and the fleet — nothing else.
What happens next

From first conversation
to live store — the process.

🏦 For Investors — 4 steps

1
Week 1
NDA + Investor Deck
Sign NDA. Receive full investor deck — unit economics, 5-year financial model, cap table, and term sheet. No teaser version — the full document from Day 1.
2
Week 2–3
Store Visit + Diligence
Visit the Pondicherry pilot store. Review live platform DSaaS contracts, compliance documentation, and Limo Group consolidated financials. Ask everything — we will answer everything.
3
Week 4
Term Sheet Negotiation
Agree investment structure — Limo Mart equity or store-level SPV. Finalise governance terms. Legal documentation prepared by Limo Group's counsel.
4
Week 5–6
Capital In. Store Opens.
Funds received. Next city location confirmed. OpenADarkStore begins fit-out. Limo Jobs recruits staff. Limo Electric allocates fleet. DSaaS agreements signed with platforms. Store live in 30–45 days.

⚡ For Q-Commerce Platforms — 4 steps

1
Day 1–3
NDA + City Coverage Map
Sign NDA. Share your 2025 city expansion list. Within 48 hours, Limo Mart sends back a city coverage map — which pin codes we have ready now, which are 30 days out, which are 60 days out.
2
Day 4–7
Store Visit + WMS API Docs
Visit a live Limo Mart store. Review the fit-out spec, compliance documentation, and Zone B layout against your SLA requirements. Share your WMS API documentation — integration scoped immediately.
3
Day 8–14
DSaaS Agreement Signed
DSaaS Licence Agreement signed covering: city coverage, base licence fee, GMV kicker structure, staffing model (per-FTE or per-order), fleet pricing, SLA terms, and WMS integration timeline.
4
Day 15–45
WMS Live. First Order Dispatched.
WMS integration complete. Zone B staff trained to your SLA protocols. Limo Electric riders briefed. Inventory delivered by your supply chain to Zone B. First order routed. You just entered a new city in under 6 weeks — with zero capex and zero compliance overhead.
Choose your path

One conversation.
We'll know exactly where to take it.

🏦 Investor
Request the full investor deck — unit economics included.
No teaser. No sanitised version. You get the real numbers: per-store P&L, 5-year model, cap table, valuation basis, and term sheet. Sign an NDA and it's yours within 24 hours.
Email investors@limomart.in → 📞 Book a 30-min intro call

📋 NDA → Deck within 24hrs → Store visit → Term sheet → Close · We move fast.

⚡ Q-Commerce Platform
Send us your city expansion list. Get a coverage map back in 48 hours.
Tell us which cities and pin codes you're targeting in 2025. We'll tell you exactly which ones we can activate immediately — and when the rest will be ready. No sales pitch — just a map.
Email platforms@limomart.in → 📞 Talk to our partnerships team

📍 NDA → Coverage map in 48hrs → Store visit → WMS integration → Live in 30–45 days

🔒 All discussions are covered by mutual NDA · 📍 Limo Mart is a wholly owned subsidiary of Limo Group · ✅ DPIIT recognised startup