Sachin Tendulkar-backed Spinny files for Rs 2,500-3,000 crore IPO
Used-car platform Spinny has filed papers with SEBI for an IPO, with investor Sachin Tendulkar among its backers.
Cricketer Sachin Tendulkar is back in the news, this time on the stock market. The company he invested in, used-car platform Spinny, is preparing to go public and has filed its papers with SEBI.
The company aims to raise around Rs 2,500 to 3,000 crore through the IPO, though the final figure will only be confirmed once SEBI grants approval. Spinny will raise funds by issuing new shares, while existing investors will also sell some of their shares through an offer for sale, or OFS. This will bring in money for the company while giving early investors a chance to exit with profits.
Kotak Mahindra Capital, Citigroup, Morgan Stanley and 360 One are among the firms handling the IPO. The company is targeting a stock market listing in 2027, though the date has not been finalised. In August 2026, the company converted itself from a private limited to a public limited entity, and its parent company was renamed Value Driv Technology.
Spinny's business has been growing rapidly. According to the filings, the company's revenue grew 25 percent in financial year 2025. It earned Rs 3,730 crore in 2024, which rose to Rs 4,657 crore in 2025, and is reportedly expected to cross Rs 6,000 crore in 2026.
Sachin Tendulkar is not just the face of the company's advertising but also an investor. He put money into Spinny in 2021 and later became its brand ambassador. Besides Tendulkar, major investors in Spinny include Tiger Global and Accel.
Spinny was founded in 2015 by Niraj Singh, Mohit Gupta and Ramanshu Mathur. Niraj Singh currently serves as the company's CEO. The company does not just sell used cars; it also offers loans, insurance and after-sale servicing, covering the full process from buying to selling a car. This is known as a full-stack model.
The company has expanded its business by acquiring firms such as Truebil, GoMechanic and Autocar India. It currently operates in 25 cities and sells 15,000 cars every month, making it one of the country's largest players in the segment.
