India, Sept. 22 -- Used-car marketplace Spinny has pre-filed IPO papers with the Securities and Exchange Board of India (SEBI), sources told Inc42.

The Gurugram-based startup is looking to raise Rs.2,500 Cr to Rs.3,000 Cr through a combination of fresh shares and an offer for sale (OFS), the sources added.

Spinny is targeting a potential listing in 2027, although the exact timeline will depend on regulatory approvals. The final issue size and structure could also change during the IPO process.

The company has appointed Kotak Mahindra Capital, Citigroup Global Markets India, Morgan Stanley India and 360 ONE WAM as book-running lead managers for the proposed issue.

The development was first reported by Moneycontrol. Spinny declined to c...