Spinny files confidentially for Rs 3,000-crore IPO
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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