In a major consolidation move in India’s online automobile marketplace, CarTrade Tech is set to acquire CarDekho (Girnar Software Pvt. Ltd.), according to multiple people familiar with the matter.

Sources told CNBC-TV18 that the deal is in advanced stages and is expected to be structured as a cash-and-stock transaction. While the final contours are still being negotiated, the valuation is likely to exceed CarDekho’s last reported $1.2 billion from its 2021 Series E funding round, when the company achieved unicorn status.

Due diligence and final-term discussions are currently underway, with an official announcement expected in the coming days. CarTrade has not yet responded to CNBC-TV18’s queries, while CarDekho has declined to comment on the development.

The timing of the proposed trans

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