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Spinny Files Confidential Papers for Rs 3,000 Crore IPO, Eyes 2027 Public Debut
M
Moneycontrol•22-09-2026, 08:29
Spinny Files Confidential Papers for Rs 3,000 Crore IPO, Eyes 2027 Public Debut
- •Sachin Tendulkar-backed used-car marketplace Spinny has confidentially filed IPO papers with SEBI to raise Rs 2,500-3,000 crore.
- •The IPO is expected to include a mix of fresh capital and an Offer for Sale (OFS) by existing shareholders.
- •Spinny, founded in 2015, has scaled revenue to Rs 4,657 crore in FY25 and aims for a public market debut in 2027.
- •The company converted its parent entity, Valuedrive Technologies, into a public limited company in August as part of IPO preparations.
- •Spinny, a unicorn since 2021, has raised $780 million from investors like Tiger Global and Accel, with Sachin Tendulkar as a strategic investor and brand ambassador.
Key Questions Answered
Spinny is looking to raise between Rs 2,500 crore and Rs 3,000 crore through its initial public offering via a combination of fresh capital and an offer for sale.
Spinny converted its parent entity, Valuedrive Technologies, from a private limited company into a public limited company in August as part of its preparations for a public listing.
The company has appointed Kotak Mahindra Capital Company, Citigroup Global Markets India, Morgan Stanley India Company, and 360 ONE WAM as book running lead managers for the proposed issue.
