IPO · Commerce & Consumer Brands
Spinny files confidential IPO papers, eyes ₹2,500-3,000 crore issue
By Startup Enthusiast ·
- Date
- Company
- Spinny
- What it does
- Pre-owned car retailing platform
- Kind
- IPO
- Amount
- ₹2,500-3,000 crore
- Based in
- Gurugram
- Founded
- 2015
What they do
Spinny operates a full-stack used-car platform that handles vehicle inspection, refurbishment, certification, financing, and doorstep delivery for buyers
What happened
The company has confidentially submitted draft IPO [initial public offering (when a private company sells shares to the public for the first time)] papers…
Why it matters
The proposed public offering will include a fresh issue of shares along with an offer for sale by existing investors, with a listing targeted for 2027
The details
- Pre-owned car platform Spinny has confidentially submitted its draft IPO papers to the Securities and Exchange Board of India to raise approximately ₹2,500 to ₹3,000 crore.
The bigger picture
- The public offering is expected to comprise a fresh issue of shares alongside an offer for sale by existing institutional shareholders, with a stock market debut tentatively eyed for 2027.
About the business
- Spinny operates a full-stack marketplace for used cars, managing the entire transaction chain from vehicle sourcing and 200-point inspection to refurbishment and final retail.
What happens next
- Targeting a public market debut in 2027 subject to regulatory approvals.
The deal
- Type
- IPO
Founders
- Niraj Singh, Founder and CEO
- Mohit Gupta, Co-founder
- Ramanshu Mahaur, Co-founder
About Spinny
- Product
- A platform that helps consumers buy, sell, and exchange used cars.
- Customers
- Individual car buyers and sellers, plus dealers and OEM partners.
- How it makes money
- It earns from car sale margins, exchange activity, and related services such as financing and warranties.
- What sets it apart
- Certified inspection and a managed, end-to-end transaction experience.
- Operations
- Operates an inventory-backed and platform-assisted used-car retail network.
Other articles talking about it
More on Spinny
- Spinny discusses used-car value at auto conclave19 September 2026 · Analysis
- Spinny reports FY26 revenue of ₹6,000 crore9 September 2026 · Results
- Spinny estimated to cross ₹6,000 crore in revenue for FY266 September 2026 · Milestone
- Spinny expands dealership exchange and features footballer Ryan Williams1 September 2026 · Launch
- Spinny converts to public company, plans IPO in 20273 August 2026 · IPO · ₹43 crore
- Spinny plans IPO by Q1 202728 April 2026 · IPO
- Nissan and Spinny launch 55-minute car exchange20 March 2026 · Partnership
- Spinny completes 100% takeover of GoMechanic9 March 2026 · Acquisition
Same day
- Bessemer closes $5.75 billion across two funds23 September 2026 · New fund · $5.75 billion
- HuntingCube launches 2.0 platform with AI and human review23 September 2026 · Launch
- Digit Insurance chief Jasleen Kohli wins global award23 September 2026 · People
- Disha (formerly Curelink) raises Series A funding23 September 2026 · Funding · Rs 43.88 crore
- Robokidz Eduventures IPO closes with 809x total subscription23 September 2026 · IPO · ₹31.09 crore
- Rio Health raises Rs 43 cr in pre-series A funding23 September 2026 · Funding · Rs 43.08 Cr