Overview
- CarTrade disclosed discussions with Girnar Software about a potential consolidation of their new and used automotive classifieds businesses in India.
- The company stated that no definitive agreement has been executed and that terms are not final.
- Media reports have cited a potential cash-and-equity deal valued at over $1.2 billion, which has not been confirmed by the companies.
- CarTrade reported Q2 FY26 revenue of Rs 222 crore and net profit of Rs 64 crore, is debt-free, and holds roughly Rs 1,080 crore in cash.
- If completed, the combination would unite two long-standing marketplaces and could intensify competition with CARS24, Spinny and Droom.