Spinny files for IPO worth up to ₹3,000 crore

Spinny, a second-hand car marketplace, has filed draft papers with SEBI for an initial public offering (IPO). The offering is expected to be valued between ₹2,500 crore and ₹3,000 crore.

The company, which received investment from Sachin Tendulkar five years ago, has seen significant revenue growth. For fiscal year 2025, operational revenue rose 25% to ₹4,657 crore. The company plans to list by 2027, pending regulatory approval. The IPO will include new shares and an offer for sale (OFS) by existing shareholders. Book-running lead managers include Kotak Mahindra Capital, Citigroup Global Markets India, Morgan Stanley India, and 360 One WAM.