India, Sept. 27 -- Five years ago, CarTrade became one of the first digital auto marketplaces to test India's public markets. The company went public in August 2021 at Rs.1,618 per share. Five years on, its stock has climbed to around Rs.3,000, offering an early read on how investors have valued the online auto marketplace story.

Now, a new crop of used-car and auto commerce startups is preparing to embark on the same quest. Spinny, Cars24 and CarDekho are gearing up for potential public-market debuts. Spinny has pre-filed its IPO papers and 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), sources told Inc42.

The Gurugram-based startup is targeting a potential listing in 2...