India’s CarTrade in talks to acquire CarDekho parent
- ByStartupStory | November 11, 2025
CarTrade Tech Ltd, a leading Indian online auto classifieds platform, has confirmed it is in discussions with Girnar Software Pvt. Ltd, the parent company of CarDekho and BikeDekho, to potentially acquire their automotive classifieds businesses in India. This move could unite two of the most prominent players in the country’s digital auto marketplace, creating a major consolidated platform for new and used vehicle listings and related services.
The talks are currently limited to the automotive classifieds segments of CarDekho and BikeDekho and do not include other Girnar businesses such as financing, insurance, or non-automotive verticals. Both companies have strong brand recognition and complementary strengths in the vehicle discovery, price comparison, and dealer engagement spaces.
If the discussions culminate in a definitive agreement, the combined entity would significantly broaden CarTrade’s reach across consumer and enterprise segments. CarDekho has been backed by investors like Peak XV, Hillhouse Capital, and Google Capital and attained unicorn status in 2021 with a valuation around $1.2 billion. CarTrade is a publicly listed company with a market capitalization of approximately Rs 13,917 crore (about $1.57 billion).
The potential acquisition comes on the back of CarTrade’s robust second-quarter financial performance in the fiscal year 2025-26, where it reported a consolidated net profit doubling year-on-year to Rs 64.1 crore, driven by a 25% increase in revenue to Rs 193.4 crore. CarTrade’s Consumer Group division was a key growth driver, with revenue rising 37% and profit after tax up 82%, highlighting the company’s operational strength. Additionally, CarTrade’s acquisition of OLX India in 2023 has been delivering steady revenue gains and profitability improvements.
CarTrade’s leadership sees the consolidation as a strategic step to enhance competitiveness in India’s fast-growing online automotive market, where rivals include CARS24, Spinny, and Droom. By integrating CarDekho and BikeDekho’s classifieds platforms with its own vehicle listings, dealer auctions, and B2B finance services, CarTrade would create a more comprehensive ecosystem for buyers, sellers, and dealers.
The companies have stated that these discussions are preliminary, with no binding or definitive agreement yet reached. Both sides continue due diligence and negotiations on transaction terms, including a potential cash-and-stock deal valued at over $1.2 billion, as reported by media sources.
This potential consolidation reflects broader industry trends toward scale and integrated service offerings in India’s auto-tech ecosystem, aiming to provide consumers with seamless, end-to-end solutions for vehicle purchase, financing, insurance, and resale.
A successful acquisition would mark one of the largest mergers in India’s automotive technology sector, positioning CarTrade as an even more dominant platform within South Asia’s dynamic vehicle classifieds and services market.
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