Spinny Plans ₹3,000-Crore IPO for 2027
Spinny Plans ₹3,000-Crore IPO for 2027
Anonymous
Key Points
1
Spinny was founded in 2015 by Niraj Singh, Ramanshu Mahaur, Ganesh Pawar and Mohit Gupta. The company has raised about $698 million from investors including Accel, Tiger Global Management and General Catalyst; its latest reported financing was a $90 million Series G round in December 2025.
2
As part of its pre-IPO preparations, Spinny added former Bharti Group CFO Akhil Gupta and Info Edge board member Geeta Mathur as independent directors to strengthen its corporate-governance framework.
3
Spinny was reportedly selling nearly 15,000 cars a month, with customers in 25 cities and sellers in more than 100 cities; it is seeking to expand its buyer presence to about 35 cities.
4
The confidential filing process allows Spinny to submit draft IPO documents to SEBI without immediately making the offer documents public, meaning detailed terms of the issue may only emerge later. Spinny has not officially commented on the reported filing.
5
One report puts the proposed issue at ₹3,000-3,500 crore, with the primary share sale and the offer for sale expected to be split almost equally—higher than the ₹2,500-3,000 crore range cited by other reports.
Spinny, the Sachin Tendulkar-backed used-car retailer, has confidentially filed IPO papers with India's Securities and Exchange Board of India, targeting a potential 2027 listing BW Disrupt. The company is seeking to raise ₹2,500–3,500 crore through a mix of fresh shares and an offer for sale by existing investors Moneycontrol, with lead managers including Kotak Mahindra Capital, Citigroup, Morgan Stanley and 360 ONE WAM.
Spinny's revenue jumped 25% to ₹4,657 crore in fiscal 2025 from ₹3,730 crore in the prior year, and is estimated to have reached about ₹6,000 crore in fiscal 2026 Moneycontrol. The filing reflects a broader shift in India's fragmented used-car market toward organized platforms offering inspections, financing, insurance, warranties and home delivery.
From Startup to IPO: Spinny's Four-Year Journey
Spinny was founded in 2015 by Niraj Singh, Ramanshu Mahaur, Ganesh Pawar and Mohit Gupta. The company has raised about $698 million from investors including Accel, Tiger Global Management and General Catalyst Moneycontrol. Its latest funding round was a $90 million Series G in December 2025, showing strong investor confidence ahead of the public markets push.
As part of pre-IPO preparations, Spinny added former Bharti Group CFO Akhil Gupta and Info Edge board member Geeta Mathur as independent directors Moneycontrol. This move strengthens the company's corporate-governance framework and signals readiness for public company oversight and scrutiny.
Scaling Across India: From 25 to 35 Cities
Spinny is currently selling nearly 15,000 cars per month through a platform operating in 25 cities with buyers BW Disrupt. The company has seller presence across more than 100 cities, giving it a wide geographic advantage. Management is now seeking to expand buyer presence to about 35 cities to capture more of India's fragmented used-car market.
How Confidential Filing Keeps Details Under Wraps
The confidential filing process allows Spinny to submit draft IPO documents to SEBI without immediately making them public Times of India. This means detailed terms of the issue—including exact pricing and share allocation—may only emerge later when the company formally submits its final documents.
Spinny has not officially commented on the reported filing or IPO plans. Confidential pre-filing is a strategic move by Indian companies to test market sentiment and refine terms before full public disclosure Market Screener.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
16
Articles
7
Reach
23
A
AnonymousAuthor
