New Delhi: myTVS, which runs an auto sector-focused aftermarket business, has hired Rothschild and Citi for a pre-IPO fundraising of around USD 125 million that could peg the value of the company at USD 1.2-1.3 billion, according to sources.

The fundraising is expected to attract global auto component players, insurance companies and sovereign wealth funds who could vie for a stake in the business with an addressable market size of USD 10 billion, they said.

The company has expanded at a 30-35% compound annual growth rate over the past five years since inception. It offers aftermarket services such as repairs, vehicle health tracking, auto components, insurance and vehicle fleet-related services. It has annual revenue of about INR 2,000 crore.

myTVS’ existing backers outside of the TVS family include Castrol, Mitsubishi as well as Fiat’s Agnelli family through Exor International.

Initially launched as an online roadside assistance and services player, the company now caters to the entire aftermarket ecosystem including vehicle owners, garages and retailers of spare parts through online-to-offline (O2O) channels. It’s business has touched 12 million customers and 10,000 vehicle fleets as per a recent presentation at the Bharat Mobility show.

myTVS did not respond to ET’s queries. Rothschild and Citi declined to comment.

myTVS is targeting about 35,000 garages and 20,000 retailers to whom it can offer products and services, according to sources. The ecosystem of garages and retailers across India could number well over 200,000.

The company has its own network of 1,200 branded myTVS garages which it has said would double in numbers in the next 18 months. This network is said to be among the top 5 such organised networks with a pan-India reach.

For vehicle fleets, it is integrating everything from charging infrastructure to predictive maintenance. While it doesn’t own the charging infrastructure, the company has tie-ups with third parties with whom it provides integrated offerings to vehicle fleet owners. Its garage network and spare parts distribution business take care of the service, repair and health tracking needs of these fleets. myTVS is part of the USD 3 billion TVS Mobility Group which also has interests in vehicle dealerships, tyre manufacturing and supply chains.