CarTrade Tech on Thursday said discussions with Girnar Software, the parent of CarDekho and BikeDekho, on a possible consolidation have been called off. In a filing dated 27 November 2025, the company said both parties had “mutually decided not to proceed with the proposed transaction at this stage”.
According to the filing, the proposed transaction is no longer being pursued. CarTrade said that it will remain focused on scaling its current platforms — CarWale, BikeWale, OLX India and Shriram Automall — all of which operate in what it describes as large and expanding markets.
The company said that it intends to continue investing in product and technology and enhance value across its broader ecosystem. It added that it will keep evaluating strategic opportunities as part of its normal course of business, with any developments to be disclosed in line with SEBI regulations.
Background to the proposed consolidation
The discussions, had they progressed, would have combined CarTrade’s dealer-focused operations in remarketing, auctions and B2B financing with CarDekho’s consumer listings, insurance and digital retail presence.
The potential deal had drawn considerable interest within the auto-tech sector, as it was expected to alter competitive dynamics for players including Cars24, Spinny and Droom.
CarDekho’s parent, Girnar Software, has been restructuring operations in recent years. After exiting the used-car retail business in 2023, the group reported ₹2,393 crore in operating revenue in FY24, with losses narrowing by over 40 per cent to ₹340 crore. The company has since leaned on higher-margin segments such as InsuranceDekho and transaction-led services including auto finance and OEM advertising.
