CarTrade Tech and Girnar Software-the parent company of CarDekho and BikeDekho have officially ended discussions on a potential consolidation, closing one of India’s most closely followed negotiations in the auto-tech space.
In a regulatory filing dated 27 November, CarTrade announced that both companies had “mutually decided not to proceed with the proposed transaction at this stage.” The decision brings a halt to talks that were first disclosed earlier this month, following reports by Entrackr.
CarTrade had confirmed on 11 November that it was in preliminary discussions with CarDekho exploring a potential merger. Reports suggested the possibility of an all-stock acquisition that could have combined the strengths of two major players, creating one of India’s largest integrated automotive marketplaces. Media coverage indicated that CarDekho’s automotive classifieds business was being valued at roughly $1.2 billion-aligned with its last funding round in 2021 from investors such as CapitalG, Peak XV Partners and LeapFrog.
CarTrade, which also went public in 2021, has been expanding its footprint through acquisitions including OLX India and Shriram Automall, strengthening its presence across both digital and physical auto marketplaces.
With the discussions now discontinued, CarTrade stated that it will continue focusing on its current portfolio-CarWale, BikeWale, OLX India and Shriram Automall-each operating in a large and growing market with significant long-term potential.
The company added that while the CarDekho talks have ended, it remains open to evaluating strategic opportunities as they arise in the ordinary course of business.
