CarDekho, co-founded by Shark Tank's Amit Jain, plans ₹4,000cr IPO
CarDekho, the online platform for buying and selling cars co-founded by Shark Tank India judge Amit Jain, is said to be in talks with investment banks. The company is gearing up for its initial public offering (IPO) on Indian bourses next year. CarDekho will become the second auto classifieds portal to list on the Indian stock exchanges after CarTrade Tech, which raised ₹2,998.5 crore through its IPO in August 2021.
CarDekho aims to raise up to ₹4,000 crore through IPO
CarDekho is currently in talks with a number of investment banks over its IPO plans. The company hopes to raise ₹3,000 crore-₹4,000 crore through the process. The IPO will comprise fresh fundraising for the company's growth plans as well as a secondary share sale by early investors looking to divest part of their shareholding.
A look at CarDekho's journey and investor base
Founded in 2008 by a bunch of IIT graduates, CarDekho's investor base features big names like Google, Tybourne Capital, Hillhouse Capital, Sequoia Capital, HDFC Bank, Ratan Tata and Times Internet. The platform offers detailed information on new and used cars for customers, including expert reviews, detailed specifications and prices, cost comparisons as well as features of alternative models.
CarDekho's services and expansion beyond India
Along with enabling car purchases, CarDekho also provides tech-enabled tools to car manufacturers and dealers. These include apps to manage leads, cloud services to track sales performance, call tracker solutions, digital marketing support, virtual online showrooms and outsourced lead management operational process. The company has also expanded its operations outside India to Southeast Asia with Zigwheels's launch in UAE, Philippines and Malaysia and Oto brand in Indonesia.
