Capri Global Holdings acquires 51% stake in CarLelo for ₹150 crore

Capri Global Holdings Pvt Ltd (CGHL) has acquired 51 per cent stake in CarLelo, an online new car sales platform, for Rs 150 crore.

CGHL is the holding company for Non-banking financial companyAnd Capri Global Capital Limited (CGCL).

“This investment is a testament to our commitment to driving the growth of the online new car sales and financing market while empowering new-age technology leaders to navigate today’s market challenges,” said Rajesh Sharma, Managing Director and Founder of CGHL.

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CGHL, in a statement, said that with this new influx of capital, CarLelo will improve its presence, services and technologies, which will be used to acquire new customers.

“CarLelo currently has 1,200 employees across 34 cities in India who regularly interact with customers, offering them one-stop services for all their new car-related needs,” according to the statement.

In addition, the company will also have 8,000 authorized dealers in the country to enhance the digital buying and selling experience for customers.

Moreover, with its innovation in online new car sales, CarLelo intends to sell approximately 7,000 to 8,000 vehicles per month, CGHL said.