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2 clusters · 6 sources · 4 days · First seen · Last updated

Spinny IPO filing

Overview

Indian used-car marketplace Spinny has filed confidential draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company seeks to raise between ₹2,500 crore and ₹3,000 crore through a combination of new shares and an offer for sale by existing investors.

The filing follows the conversion of its parent company, Valuedrive Technologies, into a public limited company in August. Spinny aims for a stock-market debut by 2027, pending regulatory approval. The company has reported significant revenue growth, with operational revenue increasing 25% to ₹4,657 crore in fiscal year 2025.

Book-running lead managers for the offering include Kotak Mahindra Capital Company, Citigroup Global Markets India, Morgan Stanley India Company, and 360 ONE WAM.

Entities

Spinny · Sachin Tendulkar · SEBI · Niraj Singh · JSW One Platforms Ltd

Timeline

  1. [BUSINESS] 2 sources
    Spinny files for IPO worth up to ₹3,000 crore

    Spinny, a used car platform backed by Sachin Tendulkar, has filed for an IPO with SEBI, targeting a valuation between ₹2,500 crore and ₹3,000 crore.

  2. [BUSINESS] 4 sources
    Spinny files for ₹3,000 crore IPO to expand used-car business

    Indian used-car retailer Spinny has filed confidential IPO papers with SEBI, aiming to raise ₹2,500-3,000 crore for a potential 2027 market debut.

Sources

businessconnectindia.in · inc42.com · khabarchhe.com · marksmendaily.com · newindianexpress.com · tv9gujarati.com