Indian Used-Car Market: IPOs Planned by CARS24, CarDekho, and Spinny

Several major online used-car companies in India, including CARS24, CarDekho, and Spinny, are planning to sell shares to the public through IPOs.

Their aim is to collectively raise over $1 billion.

To prepare for these IPOs, they are cutting costs and restructuring.

CARS24, for instance, has already made significant changes and reported a loss last year.

The move to go public is due to increasing investor interest in Indian businesses.

One of their competitors, CarTrade Tech Ltd., which is already public, has seen its stock price rise significantly.