Overview
- An exchange filing confirms discussions with Girnar Software on consolidating new and used automotive classifieds in India.
- CarTrade says no binding or definitive agreement has been executed at this stage.
- Media reports point to a potential cash-and-equity deal valued at over $1.2 billion, which remains unconfirmed by the companies.
- CarTrade’s September-quarter results show rising revenue and profit, and it holds about INR 1,080 crore in cash that could fund M&A.
- A combined classifieds platform would alter competitive dynamics for online vehicle marketplaces such as CARS24, Spinny and Droom.