Omnichannel recommerce platform Cashify has reportedly appointed ICICI Securities, JM Financial, and Nomura as lead bankers for its upcoming initial public offering (IPO).
The Gurugram-based firm is aiming to raise between ₹1,500 crore and ₹1,800 crore through the issue. The final structure of the IPO, including the mix between fresh equity issuance and an offer for sale (OFS), is yet to be finalised.
According to reports, early backers such as Bessemer Venture Partners, Olympus Capital Asia, and Blume Ventures are likely to partially exit their holdings through the OFS portion.
Cashify is expected to take the confidential filing route for its draft red herring prospectus (DRHP). The company may file its IPO papers between June and July this year, with a potential listing targeted for early 2027, subject to market conditions.
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Founded in 2013, Cashify operates a platform that enables users to buy and sell pre-owned electronic devices, particularly smartphones and laptops. The company collaborates with major OEMs like Xiaomi, OnePlus, and Samsung to run device exchange programmes. It also partners with leading e-commerce platforms such as Amazon and Flipkart to facilitate seamless trade-in and resale of refurbished gadgets.
On the financial front, Cashify reported operational revenue of ₹1,096 crore in FY25, up from ₹935.07 crore in FY24. Improved revenue growth, coupled with better cost management, helped the company significantly reduce its losses by nearly 80% to ₹10.5 crore in FY25, compared to ₹53 crore in the previous fiscal.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 25, 2026, 11:13 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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