# Cars24

Type: Company

Source: Startup Intelligence Brief — https://getstartupbrief.com/entity/cars24
Canonical HTML page: https://getstartupbrief.com/entity/cars24

## Timeline

- **2027-07**: Potential listing window — Following three to four months for Sebi approvals, pricing and book-building, a listing could occur around late summer 2027.
- **2027-04**: Projected DRHP eligibility — Cars24 expects to be eligible to file its draft red herring prospectus after re-domiciliation to India completes.
- **2026-09-27**: CFO confirms reverse flip approval — CFO Shivanshu Makkar tells PTI that Singapore has approved Cars24's re-domiciliation and India filing is underway, projecting DRHP eligibility by April.
- **2022**: $3.3B post-money funding round — Cars24 closed its last external funding round at a $3.3 billion post-money valuation; no fresh capital raised since.
- **2015**: Cars24 incorporated in Singapore — The company was set up in Singapore, a common domicile for Indian startups seeking foreign capital.

## Recent coverage (1 stories)

### Cars24 Eyes April DRHP at $3.3B Valuation After Reverse Flip
2026-09-27 10:11:00 · Sentiment: Neutral · Impact: 5/10 · Sources: 2

Cars24 CFO Shivanshu Makkar says the used-car marketplace expects to file its DRHP by April 2027 after completing a Singapore-to-India reverse flip. With no external funding since its 2022 $3.3B round, the IPO is framed as expansion capital, not cash-burn funding.
Full story: https://getstartupbrief.com/story/cars24-3-3b-drhp-april-reverse-flip

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