IPO Wave: CarDekho, CARS24, Spinny Prepare for Market Entry
India’s leading online used car platforms are gearing up for the public markets. CarDekho, CARS24 and Spinny are in early discussions with bankers to explore initial public offerings (IPOs) that could collectively raise as much as $1 billion, according to Bloomberg.
ALSO READ: Lamborghini Fenomeno: The Hybrid Supercar That BREAKS All Limits
IPO Talks Underway
People familiar with the matter said the startups are evaluating investor appetite and considering restructuring steps required before going public. While the discussions are still exploratory, the proposed listings could take place over the next 12–18 months. None of the companies have yet appointed formal advisers or filed documents.
New-Age IPO Wave in India
The potential listings come at a time when Indian markets are seeing strong investor demand for tech-enabled consumer platforms. Just this week, Urban Company made a stellar market debut, listing at a 60% premium. Eternal Ltd., which operates Zomato and Blinkit, has surpassed Avenue Supermarts (DMart) in valuation, signaling the strength of new-age firms.
Other startups are also queuing up. Groww’s operator, Billionbrains Garage Ventures, is preparing a ₹7,000-crore IPO. Eyewear brand Lenskart, edtech player Physics Wallah, and consumer electronics maker BoAT are also finalizing their market entry strategies.