Cashify, an omnichannel recommerce platform, has taken a significant step towards its initial public offering (IPO) by appointing ICICI Securities, JM Financial, and Nomura as its bankers. The company, headquartered in Gurugram, aims to raise between Rs 1,500 crore to Rs 1,800 crore through the IPO, with the final structure yet to be determined.
Early investors like Bessemer Venture Partners, Olympus Capital Asia, and Blume Ventures are anticipated to sell part of their holdings during the IPO. Cashify, founded in 2013, specializes in facilitating the buying and selling of used electronics, focusing primarily on phones and laptops. It collaborates with major original equipment manufacturers like Xiaomi, OnePlus, and Samsung for exchange programs and partners with e-commerce giants Amazon and Flipkart to simplify the trade of refurbished devices.
The company is likely to follow the confidential filing path for its draft red herring prospectus, with plans to submit IPO papers in mid-2026, targeting a listing in early 2027. Cashify’s operational revenue for FY25 surged to Rs 1,096 crore from Rs 935.07 crore in FY24, leading to a substantial 80% reduction in losses to Rs 10.5 crore from Rs 53 crore in the previous year.
Source: Entrackr : Latest Posts