Cars24 expects to be eligible to file DRHP by April after reverse flip

Cars24 is completing its reverse flip from Singapore to India and expects to be eligible to file its DRHP by April. CFO Shivanshu Makkar said the re-domiciling process will take six to nine months, with Singapore approval already secured. The company's last funding round was in 2022 at a $3.3 billion post-money valuation.

• Reverse flip from Singapore to India to take six to nine months
• Singapore approval for re-domiciling already received
• Last funding round in 2022 at $3.3 billion valuation
• Cars24 holds about 7% of UAE used-car market, growing 30%