{
  "id": 10157952,
  "title": "Cars24 expects to be eligible to file DRHP by Apr: CFO",
  "url": "https://urgent.news/2026/09/27/cars24-expects-to-be-eligible-to-file-drhp-by-apr-cfo",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-27T06:51:26.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/cars24-expects-to-be-eligible-to-file-drhp-by-apr-cfo/article71515267.ece"
  },
  "original_language": "en",
  "account": null,
  "summary": "Cars24, the Indian e-commerce marketplace for automotive parts, expects to be eligible to file its draft red herring prospectus (DRHP) by April after completing its reverse flip from Singapore to India. CFO Shivanshu Makkar stated that the reverse flip process, similar to that of Flipkart and Myntra, will take six to nine months. Upon becoming an Indian entity, the company will be eligible to file the DRHP, followed by a further three to four months for Sebi approvals, pricing, and book-building. Makkar emphasized that the primary purpose of the IPO is to create capital for expansion in India and new geographies, rather than to meet an immediate funding need. The company's last funding round was in 2022 at a $3.3 billion post-money valuation, and they have not raised additional capital since then.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}