GIRNAR SOFTWARE
CarDekho set to file for Rs 3,000 crore IPO; targets around Rs 13,000 crore valuation
The IPO is expected to be largely an offer for sale (OFS) by existing shareholders, with a fresh issue of about Rs 300 crore. The Jaipur-based company is eyeing a valuation of around Rs 13,000 crore as per early discussions with investment bankers, according to the people. This would be higher than its last private valuation of Rs 9,000 crore, when it had raised Rs 1,900 crore in primary capital around five years ago.
CarTrade Tech slides 5% as talks to absorb CarDekho, BikeDekho collapse
CarTrade Tech shares fell 5% after the company and Girnar Software mutually agreed not to proceed with the proposed acquisition of CarDekho and BikeDekho, a deal that could have reshaped India’s automotive classifieds and digital auto-retail market.
CarTrade, CarDekho parent end acquisition talks
CarTrade Tech has pulled the plug on its planned takeover of Girnar Software's automobile classified units – CarDekho and BikeDekho. After discussions, both parties have decided not to move forward with the transaction at this time.
CarTrade confirms acquisition talks with CarDekho parent
CarTrade Tech is in talks to acquire CarDekho and BikeDekho. This potential deal would unite two major players in India's auto classifieds market. CarDekho is a unicorn, while CarTrade is a listed company. The discussions focus only on the automotive classifieds segments. CarTrade recently reported strong financial results, with profits doubling and revenue growing significantly.
CCI approves proposed merger of Girnar group firms with Artivatic Data Labs
Fair trade regulator CCI has approved the merger of four Girnar group entities, including those operating CarDekho and InsuranceDekho, into Artivatic Data Labs. This consolidation aims to streamline operations within the Girnar ecosystem. In a separate development, CCI also cleared private equity firm Creador's acquisition of a stake in pharma company La Renon Healthcare.
Spinny cuts FY24 losses; revenue's up 14% on-year
The Tiger Global-backed company reported a 14% year-on-year increase in operating revenue to Rs 3,725 crore for FY24, according to its financial documents sourced from Tofler.
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CarDekho maps a South East Asia trip from Malaysia
Girnar-Software-owned CarDekho sells vehicles online in the National Capital Region, Mumbai and Bengaluru. It has businesses in Indonesia and Philippines as well.
CarDekho enters unicorn club with $250 million funding led by Leapfrog Investments
The round includes $200 million Series E equity and $50 million as debt in its pre-IPO round, sources in the know told ET.
CarDekho to invest $20 million in used car business in FY21
All cars sold from exclusive stores will be Trustmark cars and comes with a 6 month/7500 km engine and transmission warranty as well as a 7-day shield.
CarDekho raises $70 million in new funding round led by Ping An Global Voyager Fund
Sunley House Capital Management is the second new investor, while CarDekho’s existing backers, Sequoia Capital and Hillhouse also participated
CarDekho’s revenue increases by 62% to Rs 260 crore
Girnar Sofware, which runs CarDekho, said that revenues earned from its used-car business and affiliate services such as insurance and financing achieved a 140% year-on-year growth.
CarDekho parent buys content firm PowerDrift
Founded in 2012 by Rohan Albal and Amit Shetty, PowerDrift claims to have over 240 million lifetime views on its YouTube channel with an average of 2 lakh views per video.
CarDekho acquires YouTube auto content platform PowerDrift
With this acquisition, GirnarSoft group through its various acquisitions has a cumulative subscription base of 1.4 million users with a traffic of 30 million monthly unique visitors across its group platforms.
CarDekho owner Girnar Software Raises Rs 16 crore from Sequoia Capital in internal round
CarDekho, which competes with players like CarTrade and Quikr's auto vertical, last raised about $15 million ( Rs 96 crore) from Google Capital and Hillhouse Capital in March 2016.
CarDekho.com ties up with Hero FinCorp for used car financing
CarDekho.com is a portal of Girnar Software founded in March 2008.
Tencent in talks with CarDekho owner to lead $40 million investment
CarDekho currently clocks an annual loan rate of $35 million for its used car financing business even as it sells over 2,500 monthly policies on the insurance side of the business.
Insurance brokerage firm Coverfox raises $15 mn from Transamerica & others
The latest round of equity financing values Coverfox between $70 million and $100 million, according to one of the sources cited earlier.
CarDekho gets licence to drive into auto insurance broking business
Online automobile search company CarDekho is set to enter the auto insurance broking business.
Girnar Software to cut 136 jobs in restructuring exercise
The company, which has been on an acquisition spree over the past two years, is cutting the jobs in order to keep its commitment to the board to become a profitable firm by the first quarter of the next fiscal and reduce "dependence on external investor funds".
CarDekho owner Girnar Software sacks 60 employees to streamline management, resources
Apart from Help On Wheels bought earlier this month - Girnar's fifth acquisition in two years - it acquired Times Internet-backed ZigWheels.com in 2015.
CarDekho acquires Help On Wheels for an undisclosed sum in an all-cash transaction
According to the press statement, Help On Wheels, which was founded in 2014, claims to have a client base of over 50,000 and pan-India service network of over 5,000.
CarDekho raises undisclosed sum in fresh funding round led by Google Capital
The latest round will see the company use the proceeds towards creating a larger sales team as well as focus on creating a more immersive consumer experience.
Girnar Software raises funds from Google Capital
The latest investment follows a $50 million funding round led by Hillhouse Capital, with participation from Sequoia Capital and Tybourne Capital, the company said in a statement.
Google Capital in talks to back auto classifieds major CarDekho
The size of the round is likely to be in the range of Rs 150-200 crore and will see the portal's existing investors also participate.
Girnar Software buys Zigwheels.com; Times Internet picks stake in Girnar
Girnar Software has acquired Zigwheels.com from Times Internet for an undisclosed amount to consolidate its leadership in online auto portals space.
Ratan Tata invests in auto classifieds portal CarDekho
CarDekho, now valued at $300 million, recently received $50 million in a fresh financing round led by China's Hillhouse Capital, which manages $14 billion in assets.
CarDekho.com raises $50 million in second round of fund infusion
CarDekho.com, the flagship portal of GirnarSoft, has raised USD 50 million (over Rs 300 crore) in the second round of fund infusion.
CarDekho gets Rs 90 crore from Sequoia Capital
Girnar Software, which runs classifieds site CarDekho and price comparison platform PriceDekho, has raised a first round of funding from Sequoia Capital.
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