Cars24 targets IPO in 6–12 months, says CEO Vikram Chopra

Used-car marketplace Cars24 is targeting a public listing in India within the next six to 12 months, founder and chief executive officer Vikram Chopra said, signalling the auto-tech company’s intent to tap capital markets as it sharpens its focus on growth and profitability.

Chopra disclosed the IPO timeline in a social media post while sharing the company’s financial performance for the first half of fiscal year 2026. “Hoping to go for the IPO in 6–12 months from now,” he wrote.

According to Chopra, Cars24’s adjusted net revenue rose 18% year-on-year to Rs 651 crore in H1 FY26, while adjusted EBITDA burn reduced by 36% to a loss of Rs 162 crore, reflecting improved operating efficiency.

During the first half, around 85,000 vehicles were transacted on the platform across India, the UAE and Australia, with total vehicle transaction gross merchandise value (GMV) of Rs 3,731 crore.

Financing has emerged as a key growth driver for the company, Chopra said, with loan disbursements increasing nearly 38% year-on-year to Rs 1,637 crore globally.

He added that Cars24 has expanded beyond its original buy-and-sell model into a broader vehicle ownership ecosystem over the past 18 months. The platform now offers services such as insurance, challan payments, pre-delivery inspections and vehicle history reports under CarTruth, buyback solutions and chauffeur services through Chauferly. These offerings generated Rs 94 crore in GMV in H1 FY26, with transaction volumes increasing 19-fold on the platform.

Looking ahead, Chopra said the company is on track to clock more than Rs 750 crore in adjusted net revenue in the second half of FY26, representing about 35% year-on-year growth, and expects transaction GMV growth to accelerate.

Earlier this month, Cars24 acquired Gurugram-based vehicle information and management platform CarInfo, as part of its strategy to strengthen its data and ownership-services capabilities.