## Cashify Taps ICICI, JM Financial, Nomura for ₹1,800 Crore IPO, Targets Early 2027 Listing
Prosus-backed gadget reseller Cashify has formally engaged investment banks ICICI Securities, JM Financial, and Nomura to lead its planned initial public offering, targeting a significant raise of ₹1,500 to ₹1,800 crore. The move signals a major liquidity event for the company and its early investors, with the IPO structure set to include both fresh capital infusion and a substantial offer for sale (OFS) component. The startup is reportedly considering the confidential filing route with market regulator SEBI, aiming to submit its draft red herring prospectus (DRHP) by mid-2024.

Key early backers, including Bessemer Venture Partners, Olympus Capital Asia, and Blume Ventures, are positioned to partially exit their investments through the OFS, capitalizing on the public market debut. Founded in 2013 by Mandeep Manocha, Nakul Kumar, and Amit Sethi, Cashify has grown to become a prominent player in India's refurbished electronics market. The selection of these top-tier bankers underscores the scale and seriousness of the listing plan, which has been in the works for some time.

The entire IPO process is projected to conclude in the 2027 financial year, with an exchange listing targeted for early 2027. This timeline places Cashify's public debut as a landmark event for India's startup ecosystem and the broader consumer tech sector, testing investor appetite for a scaled, asset-light commerce platform. The success of this offering could influence valuation benchmarks for other late-stage Indian startups eyeing public markets.
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- **Source**: Inc42
- **Sector**: The Vault
- **Tags**: IPO, Venture Capital, Fintech, Startups, SEBI
- **Credibility**: unverified
- **Published**: 2026-03-25 08:27:18
- **ID**: 32765
- **URL**: https://whisperx.ai/en/intel/32765