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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.
Current retail presence in India (cities)25 cities
Target retail presence in India (cities)200 cities
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