CarTrade Tech Calls Off Merger with CarDekho; Share Price Dips 2%

CarTrade Tech has officially withdrawn from its proposed consolidation with Girnar Software, the parent company of CarDekho and BikeDekho. 

In a stock exchange filing dated November 27, the company stated that both parties “mutually decided not to proceed with the proposed transaction at this stage.”

Background of the Proposed Consolidation

The potential consolidation was first disclosed on November 11, 2025. Discussions involved an all-stock acquisition of CarDekho, which could have created one of India’s largest auto-tech platforms. Media reports indicated that the automotive classifieds business of CarDekho could have been valued at around $1.2 billion.

CarDekho is backed by investors including Peak XV Partners, CapitalG, and LeapFrog, with its last funding round in late 2021 valuing the company at $1.2 billion. CarTrade went public in 2021 and has been expanding its offline and online auto marketplace through acquisitions such as OLX India and Shriram Automall.

CarTrade’s Future Focus

Following the cancellation of the merger, CarTrade emphasised its commitment to strengthening existing businesses, including CarWale, BikeWale, OLX India, and Shriram Automall. The company highlighted that its platforms operate in a large and growing market, offering significant potential for growth.

CarTrade also stated that it remains open to evaluating strategic opportunities in the ordinary course of business, signaling that future partnerships or acquisitions are not off the table.

CarTrade Tech Share Price Performance

On November 27, 2025, CarTrade Tech share price (NSE: CARTRADE) opened at ₹3,177.10. At 10:34 AM, the share price of CarTrade Tech was trading at ₹3,108.80, down by 2.11% on the NSE.

Also Read: CarTrade Tech Q2 FY2026 Results!

Conclusion

While the CarTrade-CarDekho merger will not proceed, CarTrade Tech is focused on expanding and consolidating its current platforms. The company aims to leverage market growth opportunities and continue building a robust auto-tech ecosystem in India.

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