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Market Chatter: Tiger Global-Backed Used Car Platform Spinny Files for India IPO

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Spinny has confidentially filed for an initial public offering in India to raise at least 30 billion rupees, according to media reports on Tuesday.

The Tiger Global-backed used car platform plans to offer a mix of new shares and shares held by existing investors on an almost equal basis, the reports said.

The reports suggest Spinny has chosen Kotak Mahindra Capital, Citigroup Global Markets India, Morgan Stanley India and 360 ONE WAM as lead bookrunners for the proposed IPO.

Spinny did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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