Spinny files confidential IPO papers, eyes upto Rs 3,000 Cr
Used-car marketplace Spinny has pre-filed IPO papers with the Securities and Exchange Board of India (SEBI), according to a news report by Moneycontrol. The company did not answer e-mail queries sent by YourStory. Founded in 2015, Spinny is an online used-car retailing platform that aims to bri
Used-car marketplace Spinny has submitted confidential draft papers for an IPO, aiming to raise between Rs 2,500 crore and Rs 3,000 crore, according to a Moneycontrol report. Founded in 2015 by Niraj Singh, Mohit Gupta, and Ramanshu Mahaur, the Gurugram-based company seeks to offer transparency and convenience in car buying and selling.
Spinny, backed by Sachin Tendulkar, was valued at $1.13 billion in May 2025 by Tracxn. The company, which has 36 car hubs in 15 cities, reported a loss of Rs 423.8 crore in FY25, up from a loss of Rs 590 crore in the previous year. Despite the loss, revenue from contracts with customers increased by 24.9% to Rs 4,657 crore during the period.
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