Spinny Prepares for IPO as Valuedrive Technologies Limited

Spinny, a platform for used car retailing, is gearing up for its anticipated initial public offering (IPO) by transforming into a public entity. The board has approved a special resolution to rename its parent company from Valuedrive Technologies Private Limited to Valuedrive Technologies Limited. This change is commonly seen before a public listing, as indicated in regulatory filings reviewed by Startup Superb.

Strategic Partnerships for IPO

As per a recent report from Bloomberg, Spinny has chosen Kotak, Morgan Stanley, and Citi as the leading banks for their IPO planned for calendar year 27. Founded in 2015 by Niraj Singh and Mohit Gupta, Spinny features a comprehensive used car marketplace that facilitates buying, selling, financing, insuring, and post-sales services for vehicles. Additionally, the company owns Truebil and completed the acquisition of the automotive service platform GoMechanic in 2024. In March 2025, it also expanded its portfolio by acquiring Autocar India, an automotive media and content platform.

Monthly Sales and Expansion Plans

Current sources indicate that Spinny is selling approximately 15,000 cars each month. The company caters to car buyers in 25 cities and supports car sellers from over 100 cities. Sources have also mentioned that Spinny intends to increase its buyer reach to about 35 cities shortly by adding 10 additional locations.

Financial Performance and Future Projections

For the fiscal year ending March 2025, Spinny’s operational revenue rose by 25% year on year, amounting to Rs 4,657 crore, up from Rs 3,730 crore in FY24. The company is projected to finish FY26 with revenues of roughly Rs 6,000 crore, according to insider information.

Investments and Valuation

To date, Spinny has secured roughly $780 million in funding, with Tiger Global and Accel listed among its primary shareholders. The company’s most recent funding round brought in around $165 million from Accel Leaders Fund, Fidelity Investments, and various other investors, achieving a valuation between $1.5 billion and $1.8 billion.

Startup Superb has made attempts to connect with Spinny for additional remarks.