Acquisition · Mobility & Logistics

CarTrade Tech in talks to buy CarDekho and BikeDekho

By Startup Enthusiast · 11 November 2025

What they do

CarTrade Tech runs CarWale, BikeWale, OLX India, and a remarketing business

It is in preliminary talks to consolidate CarDekho and BikeDekho in a deal valued over $1.2 billion

The deal would combine CarTrade's dealer auctions with CarDekho's consumer listings, creating a domestic auto-tech giant

CarTrade Tech has confirmed discussions with Girnar Software for a potential consolidation of the CarDekho and BikeDekho automotive classifieds businesses in India.
The discussions are limited to automotive classifieds and exclude financing, insurance, and other non-automotive businesses of Girnar.
No binding or definitive agreement has been executed yet; talks are preliminary.
The deal is expected to be a cash-and-stock transaction valued over $1.2 billion.
The valuation likely exceeds CarDekho's last $1.2 billion valuation from its 2021 Series E round.
Market estimates value the deal at over $1 billion.
CarDekho is backed by Peak XV, Hillhouse Capital, and Google Capital.
CarDekho attained unicorn status in 2021 after a $250 million funding round at a valuation of Rs 10,643 crore ($1.2 billion).

The potential acquisition would combine CarTrade's dealer auctions, auto financing, and B2B remarketing with CarDekho's consumer listings, insurance, and online shopping.
Integration could create an end-to-end digital experience covering vehicle search, finance, insurance, and resale.
This would be one of the largest M&A transactions in India's digital auto market, creating a domestic auto-tech giant.
CarTrade shares closed 0.68% higher at Rs 3,002 per share on NSE on November 11, 2025.

CarTrade Tech runs platforms CarWale, BikeWale, OLX India, and a remarketing company.
CarDekho Group businesses include vehicle classifieds (CarDekho, BikeDekho), insurtech (InsuranceDekho), and fintech (Rupyy).
CarTrade's platform network surpassed 85 million average monthly unique users in Q2 FY26.
CarTrade Q2 FY26 consolidated net profit was Rs 64.1 crore, up 2.9x year-on-year.
CarTrade Q2 FY26 revenue from operations was Rs 193.4 crore, up 25% year-on-year.
CarTrade's cash balance is over INR 1,080 crore, with no debt.
Girnar Software (CarDekho parent) had FY25 operational income of INR 2,644 crore.
Girnar Software achieved profitability at EBITDA and PAT levels in FY24.

The potential acquisition would combine CarTrade's dealer auctions, auto financing, and B2B remarketing with CarDekho's consumer listings, insurance, and online shopping.
Integration could create an end-to-end digital experience covering vehicle search, finance, insurance, and resale.