CarTrade Tech and Girnar Software Call Off Proposed CarDekho-BikeDekho Merger After Preliminary Discussions

CarTrade Tech and Girnar Software, the parent company of CarDekho and BikeDekho, have jointly decided to discontinue their discussions regarding a potential consolidation of their automotive classifieds businesses in India. The companies confirmed in an exchange filing dated November 27, 2025, that the parties have mutually agreed not to proceed with the proposed transaction at this stage.​

The discussions, which were confirmed by CarTrade Tech earlier in November 2025, focused exclusively on the new and used automotive classifieds segments and excluded Girnar's financing, insurance, and other non-automotive verticals. The proposed deal, which was reportedly structured as a cash-and-stock transaction, was expected to value CarDekho's automotive business at over USD 1.2 billion based on its 2021 Series E funding valuation. However, no binding or definitive agreement was executed during the negotiation period.​

The decision to discontinue the talks comes as both companies continue to evaluate strategic opportunities independently as part of their respective growth strategies.​

Key Highlights:

CarTrade Tech and Girnar Software mutually decided not to proceed with the proposed transaction.

The discussions centered on consolidating CarDekho and BikeDekho's automotive classifieds businesses in India.

No binding or definitive agreement was executed during the preliminary discussion phase.

The proposed deal excluded Girnar's financing, insurance, and other non-automotive operations.

CarTrade Tech confirmed the termination in an exchange filing dated November 27, 2025.

Both companies continue to evaluate strategic opportunities independently.

Sources: NSE India corporate filing, Business Upturn, CNBC-TV18, ScanX Trade, NDTV Profit, VCCircle, Economic Times.​