CarDekho joins IPO queue; Tech’s quiet job cuts

Published 9 July 2026 · finance

CarDekho joins IPO queue; Tech’s quiet job cuts Want this newsletter delivered to your inbox? Also in the letter CarDekho set to file for Rs

CarDekho joins IPO queue; Tech’s quiet job cuts Want this newsletter delivered to your inbox? Also in the letter CarDekho set to file for Rs 3,000 crore IPO this quarter Driving the news What’s on the table The issue will be largely an offer for sale by existing investors, with a fresh issue of about Rs 300 crore. Peak XV Partners, Hillhouse Investment and Google’s CapitalG are among those expected to sell shares. The IPO will bundle CarDekho’s core classifieds marketplace, financing arm Rupyy, and the mobility business. InsuranceDekho, now merging with RenewBuy, is expected to sit on the books as an associate investment and is preparing for a separate listing.

Profitability pitch In FY25, group operating revenue rose 24% to Rs 2,795 crore, while losses narrowed to Rs 266 crore. The standalone business remained profitable for the second straight year, with revenue crossing Rs 1,000 crore. As of March 2025, the group had net cash reserves of Rs 1,177 crore. 35,000 tech roles on the chopping block as AI takes the wheel at IT Number-wise Through May, 10,000-15,000 tech workers have lost jobs via “silent” layoffs, TeamLease says. It expects total cuts this year at around 25,000-35,000 roles. CIEL HR Services puts 2026 layoffs so far at about 12,000 and forecasts 18,000-21,000 for the full year. Taken together, tech job losses across 2025-26 could reach as many as 43,000.

Double click Also Read Jobless growth in IT: Revenue grows, headcount stagnates Expert take PayU will grow 25% across payments, credit over the next 18 months, says CEO Financial upswing In 2025-26, the fintech reported total revenue of Rs 6,700 crore and Ebitda of Rs 249 crore, a sharp turnaround from a negative Ebitda the previous year. TPV processed is about $90 billion. Gross margins improved by about 700 basis points as PayU exited low‑margin payment lines and cut open‑market sourcing for its lending arm, PayU Finance. Lending AUM is about Rs 6,000 crore. Growth levers Yes, and Zostel urges Sebi to examine Oyo IPO disclosures over legal dispute What's the issue?

Background The dispute dates back to 2015, when Oyo, then operating as Oravel Stays, proposed acquiring Zostel's business. The deal never closed. Zostel claims it is owed about 7% equity in Oyo, or an equivalent economic value. Oyo disputes this. The Supreme Court dismissed Zostel's challenge last year, but the company says the matter remains pending before the Delhi High Court under Section 37 of the Arbitration and Conciliation Act. Other Top Stories By Our Reporters Is Swiggy now Indian-owned? Dream Sports CTO steps down Elevate Education raises funds Global Picks We Are Reading