Spinny taps Kotak, Morgan Stanley and Citi for proposed Q1 2027 IPO
Used-car platform Spinny has appointed bankers for a planned Q1 2027 market debut, while expanding its buyer network from 25 to about 35 cities. The company reported FY25 revenue of ₹4,657 crore and is targeting roughly ₹6,000 crore in FY26.
Indian used-car retailer Spinny has appointed Kotak Mahindra Capital, Morgan Stanley and Citigroup for a proposed Q1 2027 IPO. It plans city expansion while targeting roughly Rs 6,000 crore FY26 revenue after FY25 revenue rose 25% to Rs 4,657 crore.
Why this matters
The banker appointments follow Spinny converting its parent into a public entity for a planned CY27 IPO, while the company expands its buyer network toward 35 cities and prepares for an IPO of up to $300 million.
Retail-company signals are accelerating, up +209000% QoQ.