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Cars24 targets April 2027 DRHP eligibility as it plans expansion from 25 to 200 Indian cities

Cars24 expects to become eligible to file an India IPO DRHP by April 2027 after its Singapore-to-India reverse flip. IPO proceeds would fund deeper domestic expansion from 25 to 200 cities and roughly 50,000 cars, while supporting Gulf and Australia growth.

Cars24 plans to expand its retail presence from 25 cities to 200 cities in India
Current retail presence in India (cities)25 cities
Target retail presence in India (cities)200 cities

Newer report , , BW Auto World : Cars24 delivers 750 cars on first day of Navratri, up 58% year on year

Reported figures

From the report. Source details below

Reverse flip process expected to take 6-9 months
SEBI approval, pricing and book-building could take 3-4 months
2022 funding valuation: $3.3 billion post-money
UAE used-car market share: around 7%
UAE growth: nearly 30%
Australia operations: 3 cities

Also in the report

  • Five out of 100 Indians own a car

The source

Source Read the source at The Hindu BusinessLine

Published

Also reported by YourStory, Inc42

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