Recent unicorn CarDekho eyes public listing in next 18 months
Unicorn CarDekho, run by Girnar Software Pvt Ltd, is reportedly looking to list on domestic exchanges within the next 18 months.
Amit Jain, co-founder and chief executive at CarDekho recently commented, “We will now begin the processes and compliance from a regulatory perspective for the IPO. Markets are always favourable to a good company. At present, our business lines of selling new cars, insurance and financial services are profitable businesses or are breaking even.”
CarDekho raised $250 million earlier this week in a pre-IPO round led by LeapFrog. The company is now valued at $1.2 billion.
The company is, reportedly, only making investments in used cars presently CarDekho has a current listing of over 3000 pre-owned cars on its platform.
Jain stated, “Tier-2 and 3 are key markets and a lot of growth is coming from these markets, especially for the used-car space. In the next 2-3 years, we will see almost 50% of our sales coming from tier-2 and 3 cities.”
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