CARS24, CarDekho, Spinny eye $1 billion IPOs as cost cuts reshape India’s used-car market: Report

Some of India’s biggest online used-car platforms are scaling back operations and pruning non-core businesses as they prepare for initial public offerings that could together raise over $1 billion.

The three unicorn startups namely CARS24, CarDekho and Spinny are holding early discussions with bankers to gauge investor appetite and assess restructuring needs ahead of potential listings within the next 12 to 18 months, Bloomberg reported, citing sources.