Spinny Files Confidential IPO for Up to ₹3,000 Crore

Going Public in 2027

Sachin Tendulkar-backed pre-owned car retailer Spinny has taken a significant step toward a public market debut by confidentially submitting its IPO papers to the Securities and Exchange Board of India. The Gurugram-based company is targeting an issue size of ₹2,500–3,000 crore, with a potential listing planned for 2027, subject to regulatory approvals.

Valuedrive Technologies, the parent entity of the pre-owned car retailer, converted from a private limited company to a public limited company in August 2026 to facilitate the transition. The proposed initial public offering is expected to feature a mix of a fresh issue of shares and an offer for sale by existing investors.

The Numbers and Syndicate

The company has onboarded major financial institutions to manage the upcoming process and capital build-out. Key details of the financial trajectory and backing include:

Revenue from operations reached ₹4,657 crore in FY25, followed by an estimated ₹6,000 crore in FY26.

Management is targeting a further 25–30% growth for FY27.

The investment banking syndicate is led by Kotak Mahindra Capital, Citigroup, Morgan Stanley, and 360 ONE WAM.

Total funding secured since the 2015 founding stands at roughly $698 million from backers such as Accel, Tiger Global, and General Catalyst.

The latest funding round for the enterprise closed in December 2025.

Market Positioning

The firm continues to compete directly in the organized used-car market against established platforms like CarDekho, Droom, and CarWale. Future market performance will hinge on executing its targeted growth while navigating the public listing timeline.