{
  "id": 9125327,
  "title": "Spinny files confidential IPO papers, eyes upto Rs 3,000 Cr",
  "url": "https://urgent.news/2026/09/22/spinny-files-confidential-ipo-papers-eyes-upto-rs-3-000-cr",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T09:49:54.000Z",
  "source": {
    "name": "YourStory",
    "slug": "yourstory",
    "url": "https://yourstory.com/2026/09/spinny-files-ipo-eyes-3000-crore"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "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",
  "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."
}