Analysis · Commerce & Consumer Brands

CARS24 eyes listing in next 6-12 months

By Startup Enthusiast · 16 January 2026

What they do

CARS24 operates a marketplace for buying and selling pre-owned cars

The company plans to list in 6-12 months; H1 FY26 revenue rose 18% YoY to INR 651 Cr

It targets INR 750 Cr revenue in H2 FY26 and has raised $1.3 Bn to date

CARS24 is planning to go public (list on a stock exchange) in the next 6-12 months.
In the first half of FY26, its adjusted net revenue rose 18% year-on-year to INR 651 Cr.
Its EBITDA loss (a measure of operating loss) narrowed 36% year-on-year to INR 162 Cr.
The company targets revenue of INR 750 Cr in the second half of FY26.
CARS24 was founded in 2015 and achieved unicorn status (valuation over $1 Bn) during a $200 Mn Series E round in 2020.
It has raised a total of $1.3 Bn to date.

The IPO (initial public offering) would be a major liquidity event for investors and founders.
CARS24's improving financials—rising revenue and narrowing losses—signal readiness for public markets.
The company operates in the fast-growing pre-owned car market in India.

Product: An online platform for used-car buying, selling, and related lending services.
Customers: Consumers and dealers transacting in used cars.
How it makes money: It earns from vehicle sales, marketplace transactions, and financing-related services.
What sets it apart: Uses AI to improve operating efficiency and support growth.
Operations: Operates across multiple countries and runs auction and retail businesses in India.