IPO · Commerce & Consumer Brands

Cashify files for IPO with ₹1,500-₹1,800 Cr issue

By Startup Enthusiast · 25 March 2026

What they do

Cashify is an omnichannel retailer of used consumer electronics like phones and laptops, and also offers device repairs

It has appointed ICICI Securities, JM Financial and Nomura as bankers for a ₹1,500-₹1,800 Cr IPO, a mix of fresh issue and OFS

Early investors Bessemer, Olympus Capital and Blume are expected to sell shares; DRHP likely in June-July 2026 with a listing target of early 2027

Cashify has appointed ICICI Securities, JM Financial and Nomura as bankers for its initial public offering (IPO).
The IPO size is expected to be ₹1,500-₹1,800 crore, comprising a mix of fresh issue and an offer for sale (OFS).
In the OFS, early investors Bessemer Venture Partners, Olympus Capital Asia and Blume Ventures are expected to sell their shares.
The draft red herring prospectus (DRHP) is likely to be filed through the confidential route in June-July 2026.
The company targets a listing in early 2027.
Over 40 new-age tech companies are in the IPO pipeline, though the West Asia conflict is affecting investor sentiment.

Cashify's FY25 operating revenue was ₹1,095.9 crore, up from ₹935.1 crore in FY24.
Its net loss in FY25 dropped 80% to ₹10.6 crore from ₹53 crore in FY24.
The IPO comes as many tech firms queue up for listings, but some like PhonePe have halted plans despite regulatory clearances.

Cashify operates an omnichannel recommerce platform for used consumer electronics.
It handles phones, laptops, smartwatches, tablets, TVs, gaming consoles, cameras, earbuds, speakers, iMacs and ACs.
Services include selling, buying refurbished devices, recycling, repairing (screen, battery, mic, back panel, proximity sensor, charging jack, aux jack) and device exchange programs.
It partners with Xiaomi, OnePlus and Samsung for exchange programs.
It works with Amazon and Flipkart for refurbished device trade.
Cashify has physical stores in Delhi, Gurgaon, Noida, Bengaluru, Chennai, Pune, Agra, Patna, Ghaziabad, Faridabad, Meerut, Mohali and Thane.

Prosus (existing) — Existing investor in Cashify.
Bessemer Venture Partners (existing) — Early investor; expected to sell shares in the OFS.
Olympus Capital Asia (existing) — Early investor; expected to sell shares in the OFS.
Blume Ventures (existing) — Early investor; expected to sell shares in the OFS.
Amazon (existing) — Existing investor and ecommerce partner for refurbished device trade.
NewQuest (existing) — Existing investor in Cashify.