CarDekho mother or father Girnar Software program is making ready to file draft papers for an IPO within the July-September quarter, with a proposed problem measurement of Rs 3,000 crore to Rs 3,500 crore, in keeping with media studies.

The Jaipur-based firm is contemplating an inventory that can largely comprise a suggestion on the market by current shareholders. A recent problem of about Rs 300 crore is anticipated to account for roughly 10% of the full providing.

Girnar Software program is concentrating on a valuation of about Rs 13,000 crore to Rs 15,000 crore, primarily based on preliminary discussions with funding bankers. This might be larger than its earlier non-public valuation of $1.2 billion, or about Rs 9,000 crore on the time, following a funding spherical in October 2021.

The corporate has not publicly confirmed the proposed IPO, its valuation goal or the submitting timetable.

Axis Capital, IIFL Capital, Goldman Sachs and Nomura are understood to have been appointed to handle the providing. Girnar Software program can be contemplating submitting its draft prospectus by way of the confidential submitting route, though a remaining resolution has not been taken.

A number of current shareholders are anticipated to promote a part of their holdings by way of the supply on the market. Peak XV Companions, Hillhouse Capital and Google’s funding arm CapitalG may very well be among the many collaborating buyers, however the remaining record and the scale of particular person share gross sales are prone to be decided nearer to the submitting.

The comparatively small recent problem will enable the corporate to lift restricted major capital whereas giving some early buyers a possibility to scale back their holdings.

Based in 2008 by brothers Amit Jain and Anurag Jain, Girnar Software program operates companies throughout automotive marketplaces, automobile financing and shared mobility.

Its portfolio contains CarDekho, BikeDekho, ZigWheels, PowerDrift, lending platform Rupyy, car-rental firm Revv and fleet-management enterprise Carrum.

The proposed IPO is anticipated to cowl the group’s automotive-classifieds, financing and mobility operations.

InsuranceDekho, which was incubated inside the CarDekho Group, is anticipated to stay an affiliate funding and won’t kind a part of the proposed itemizing. The ultimate construction will develop into clear as soon as the supply paperwork are filed.

InsuranceDekho is individually finishing a merger with insurance-distribution platform RenewBuy. The transaction is in its remaining levels after receiving approval from the Competitors Fee of India in November 2025.

The mixed insurance coverage enterprise is making ready for a separate stock-market itemizing, with plans to file draft papers by the tip of September and full the IPO by March 2027. The providing may very well be price between Rs 3,500 crore and Rs 4,000 crore and is anticipated to incorporate each new shares and a suggestion on the market.

Girnar Software program’s renewed itemizing effort follows the tip of preliminary consolidation talks with listed automotive market CarTrade Tech.

CarTrade disclosed in a stock-exchange submitting in November 2025 that the businesses had explored a doable mixture involving CarDekho and BikeDekho however had mutually determined to not proceed.

Girnar Software program had thought of a public providing earlier however paused the method whereas specializing in profitability and awaiting progress on the InsuranceDekho-RenewBuy merger.

CarDekho Group’s consolidated working income rose 24% to Rs 2,795 crore within the monetary yr ended March 2025, from Rs 2,250 crore a yr earlier.

Its consolidated loss earlier than distinctive objects and its share of losses in affiliate firms narrowed to Rs 266 crore from Rs 276 crore.

The group’s standalone enterprise, which incorporates its fundamental automotive-classifieds and financing operations, remained worthwhile earlier than distinctive objects for a second consecutive yr, with income exceeding Rs 1,000 crore.

Girnar Software program held internet money reserves of Rs 1,177 crore on the finish of March 2025, strengthening its monetary place forward of the proposed providing.