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Spinny IPO 2027: Sachin Tendulkar-Backed Spinny Files Papers, Eyes ₹3,000 Crore Issue

Posted on 22nd Sep 2026 01:51 pm by rohit kumar

Sachin Tendulkar-backed used-car marketplace Spinny has taken a major step towards a potential stock-market debut after confidentially filing IPO papers with the Securities and Exchange Board of India (SEBI).

 

According to reports citing people familiar with the matter, Spinny is looking to raise between ₹2,500 crore and ₹3,000 crore through the proposed initial public offering. The issue is expected to include a combination of a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders.

 

The company is considering a 2027 public-market debut, although the exact IPO and listing timeline has not been finalised. The final issue size and structure could also change during the regulatory process.

 

Spinny Files Confidential IPO Papers With SEBI

 

Spinny has submitted confidential IPO documents to SEBI as it prepares for a possible public listing.

 

The company has appointed Kotak Mahindra Capital Company, Citigroup Global Markets India, Morgan Stanley India Company and 360 ONE WAM as book-running lead managers for the proposed IPO.

 

The confidential filing means the company has begun the regulatory process, but it does not mean that the IPO has received final approval or that the issue dates have been announced.

 

Spinny IPO May Launch in 2027

 

Sources cited in current reports indicate that Spinny is looking at 2027 for its public-market debut.

 

However, investors should note that there is currently no confirmed IPO opening date, price band, valuation or listing date.

 

The final structure of the offering will depend on regulatory clearances and the company's decisions during the IPO process.

 

Sachin Tendulkar's Connection With Spinny

 

Cricket legend Sachin Tendulkar has been associated with Spinny since 2021.

 

Tendulkar invested in the company as a strategic investor and also became its brand ambassador. His association with Spinny has continued as the company expanded its used-car retail business.

 

The connection has made Spinny one of the more prominent Indian consumer-tech startups preparing to enter the public markets.

 

Spinny IPO Size: ₹2,500-3,000 Crore

 

The proposed Spinny IPO could raise between ₹2,500 crore and ₹3,000 crore, according to sources cited by Moneycontrol and Fortune India.

 

The offering is expected to consist of:

 

Fresh issue of shares

Offer for Sale (OFS) by existing investors

Final issue size and structure to be determined during the regulatory process

 

No final price band or share-count details have been announced at this stage.

 

Spinny Converts Parent Company Into Public Entity

 

The IPO filing follows an important corporate restructuring at Spinny.

 

In August 2026, its parent company, Valuedrive Technologies, was converted from a private limited company into a public limited company.

 

The move came as part of preparations for a potential public-market listing.

 

Spinny Revenue Rises 25% in FY25

 

Spinny's IPO plans come as the company's revenue has continued to grow.

 

According to regulatory filings cited in current reports, revenue from operations increased 25% to ₹4,657 crore in FY25, compared with ₹3,730 crore in FY24.

 

Sources cited by Fortune India said revenue reached approximately ₹6,000 crore in FY26, while the company is targeting another 25-30% growth in FY27.

 

These FY26 and FY27 figures are source-based estimates or targets rather than audited FY27 results.

 

Spinny Has Raised Around $780 Million

 

Spinny has raised approximately $780 million from investors to date, according to Moneycontrol.

 

Its investor base includes major names such as Tiger Global and Accel. The company previously raised approximately $165 million from investors including Accel Leaders Fund and Fidelity Investments at a reported valuation of around $1.5 billion to $1.8 billion.

 

Spinny became a unicorn in December 2021 after raising $283 million at a reported valuation of $1.8 billion.

 

Spinny's Used-Car Business

 

Founded in 2015, Spinny operates a full-stack used-car marketplace covering vehicle buying and selling, financing, insurance and after-sales services.

 

The company has also expanded its automotive ecosystem through acquisitions, including Truebil and GoMechanic, as well as automotive media platform Autocar India.

 

The company currently competes in India's organised used-car market alongside platforms such as Cars24 and CarDekho.

 

What Happens Next?

 

Spinny's confidential filing marks an important step towards a possible public listing, but several stages remain before investors can participate in the IPO.

 

The company will need to progress through the regulatory process, after which details such as the final issue size, fresh issue/OFS split, price band, IPO opening date and listing date can be determined.

 

For now, the reported plan is for a potential 2027 listing, subject to regulatory approvals and finalisation of the offer structure.

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