Spinny converts into public company ahead of ₹2,800-crore IPO

Indian used-car platform Spinny has converted its parent, Valuedrive Technologies, from a private limited to a public limited company ahead of its planned $300 million (over ₹2,800 crore) IPO. This is a mandatory step before filing a Draft Red Herring Prospectus with SEBI. The company reportedly appointed Morgan Stanley, Kotak Mahindra Capital, and Citi India as advisers for the listing.