Acquisition · Commerce & Consumer Brands
CarTrade and CarDekho call off acquisition talks
By Startup Enthusiast ·
- Date
- Company
- CarTrade Tech
- What it does
- Online auto classifieds platform
- Kind
- Acquisition
- Founded
- 2009
What they do
CarTrade runs auto classifieds sites like CarWale, BikeWale, and OLX India
What happened
CarTrade and Girnar Software (CarDekho) mutually ended talks for a potential consolidation
Why it matters
The deal was valued at around $1.2 billion and would have been an all-stock acquisition
The details
- CarTrade Tech and Girnar Software (owner of CarDekho) have mutually decided not to proceed with acquisition talks.
- CarTrade announced the decision in an exchange filing on 27 November 2025.
- The companies first disclosed preliminary discussions on 11 November 2025 for consolidating their automotive classifieds businesses.
- The reason for ending talks was not disclosed.
- The potential deal valued CarDekho's automotive classifieds business at around $1.2 billion.
- Earlier reports suggested a cash-and-equity deal worth over $1.2 billion.
- Discussions included a potential all-stock acquisition of CarDekho.
The bigger picture
- CarTrade said it will focus on strengthening its existing portfolio including CarWale, BikeWale, OLX India, and Shriram Automall.
- CarTrade's current businesses have strong fundamentals and operate in a large, expanding market.
- CarTrade remains open to evaluating strategic opportunities in the ordinary course of business.
- The company will continue to pursue its strategic roadmap and drive product and technology innovation.
About the business
- CarTrade operates auto classifieds platforms including CarWale, BikeWale, OLX India, and Shriram Automall.
- CarTrade began as a B2B and C2B auction platform and shifted to used car classifieds in 2012.
- CarTrade has acquired six companies in the last ten years, including Adroit Auto (CarWale, BikeWale), Shriram Automall, and OLX India.
- CarTrade went public in 2021.
- CarDekho Group's business spans vehicle classifieds, insurtech (InsuranceDekho), and fintech (Rupyy).
- CarDekho closed its used automobile retail operation in 2023 and shifted focus to financial verticals and new car business.
- CarDekho generated 24 million saleable new car leads in FY24.
- CarDekho drew 60 million monthly users in FY24.
- CarDekho recorded 1.1 billion yearly sessions in FY24.
What happens next
- CarTrade will focus on strengthening its existing portfolio of CarWale, BikeWale, OLX India, and Shriram Automall.
- CarTrade remains open to evaluating strategic opportunities in the ordinary course of business.
- CarTrade will continue to pursue its strategic roadmap and drive product and technology innovation.
The deal
- Type
- acquisition
Investors
- Peak XV Partners (existing) — Investor in CarDekho.
- CapitalG (existing) — Investor in CarDekho.
- Hillhouse (existing) — Investor in CarDekho.
- LeapFrog (existing) — Investor in CarDekho.
- Google Capital (existing) — Investor in CarDekho.
Founders
- Vinay Sanghi, Founder
- Amit Jain, Co-founder of CarDekho Group
- Anurag Jain, Co-founder of CarDekho Group
Other articles talking about it
More on CarTrade Tech
- OLX India launches Elite Buyer for Businesses14 September 2026 · Launch
- CarTrade reports Q1 FY27 financial results29 July 2026 · Results
- CarTrade Tech partners Spinny for used-car marketplace29 July 2026 · Partnership
- CarTrade Tech posts strong Q4 FY26 results with profit growth7 May 2026 · Results
- Tata Mutual Fund raises stake in CarTrade Tech30 January 2026 · Stake sale
- CarTrade Tech reports Q3 FY26 consolidated net profit of INR 61.5 Cr28 January 2026 · Results · ₹61.5 Cr
- CarTrade Tech in talks to buy CarDekho and BikeDekho11 November 2025 · Acquisition · over $1.2 billion
- CarTrade buys OLX India's auto business for ₹537 crore11 July 2023 · Acquisition · ₹537 crore