Cars24 expects to file IPO papers by April after reverse flip to India: CFO
SEBI is in focus in an ipo & listings development.
· Business Standard Mkts
Cars24 expects to be eligible to file its draft red herring prospectus (DRHP) by April after completing its reverse flip from Singapore to India, a process that could take six to nine months, its CFO Shivanshu Makkar said. In an interview with PTI, Makkar said Cars24, which was incorporated in Singapore in 2015, has received approval for the reverse flip and will file papers for its IPO in India.
The analysis
SEBI reported rs24. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
- With SEBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
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