CarTrade Tech Limited (NSEI:CARTRADE) has called off talks for a potential consolidation with Girnar Software (Girnar Software Pvt. Ltd.), the parent company of CarDekho and BikeDekho, the Mumbai-based automobile marketplace said in a regulatory filing on 27 November 2025. The announcement comes two weeks after CarTrade said that it was in discussions with the parent company of CarDekho to acquire its automotive classifieds businesses.
If completed, the deal would have marked one of the largest strategic mergers in India's digital mobility.
CarTrade Tech Limited is an India-based multi-channel auto platform with coverage and presence across vehicle types and value-added services. The Company offers a variety of solutions across the automotive transaction value chain such as the buying, selling, marketing, valuation, and financing of new and used cars, two-wheelers, commercial vehicles, and farm and construction equipment. The Company operates through several platforms, such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, and Adroit Auto. Its platforms enable new and used automobile customers, vehicle dealerships, vehicle original equipment manufacturers (OEMs), and other businesses to buy and sell their vehicles. Its CarWale services include new car OEM solutions, new car dealer solutions, used car dealer solutions, and technology solutions for OEMs and dealers. The Companyâs subsidiaries include CarTradeExchange Solutions Private Limited, CarTrade Finance Private Limited, and CarTrade Foundation.
This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
