‘Spinny’, a company backed by Sachin Tendulkar, is preparing to launch an IPO. According to a ‘Moneycontrol’ report, the company has filed confidential papers for the IPO with SEBI. Spinny operates in the pre-owned car business. The report indicates that Spinny aims to raise between ₹2,500 crore and ₹3,000 crore through the IPO. The issue comprises both fresh shares and an Offer for Sale (OFS). The company has appointed Kotak Mahindra Capital, Citigroup Global Markets India, Morgan Stanley India, and 360 ONE WAM as lead managers. The final size of the issue may undergo changes in the future. Listing Plans for 2027
The company aims to list on the domestic stock market by 2027; however, this is subject to SEBI approval. Notably, the company transitioned from a private limited entity to a public limited company just a month ago.
What is the company’s financial standing?
In the 2025 financial year, the company’s operational revenue stood at ₹4,657 crore, compared to ₹2,730 crore in the 2024 financial year. This represents a 25% year-on-year increase in revenue. To date, the company has raised $780 million in funding. ‘Tiger Global’ holds the largest stake in the company. In its most recent funding round, the company raised $165 million. The company raised these funds from Accel Leaders Fund, Fidelity Investments, and other investors at a valuation ranging from $1.5 billion to $1.8 billion.
Sachin Tendulkar invested in Spinny in 2021. Apart from being an investor, he also serves as the brand ambassador. The star cricketer has consistently supported the company.
