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Spinny Converts Parent to Public Entity as It Prepares for Up to $300M IPO
Indian used-car marketplace Spinny converted parent Valuedrive Technologies into a public limited company, a required step before an IPO. The Delhi NCR startup is reportedly targeting up to $300 million and expects to file its DRHP in Q2 FY27.
Reported figures
From the report. Source details below
| FY25 net loss: | ₹423.8 crore, down 28% from ₹590.3 crore in FY24 |
|---|---|
| FY25 operating revenue: | ₹4,656.1 crore, up 25% from ₹3,730 crore in FY24 |
| Latest funding round: | $170 million |
| Total funding since inception: | over $700 million |
| Series E funding in 2021: | $285 million |
| 2021 valuation: | about $1.5 billion |