CARS24 India CEO Himanshu Ratnoo is resigning after a five-year tenure
Co-founder Vikram Chopra will directly oversee the India used cars leadership team
The leadership change precedes a potential IPO targeted within six to twelve months
CARS24’s India CEO Himanshu Ratnoo is set to resign from his position after spending more than five years at the company, according to a report by Inc42. His departure was announced through an internal note shared with employees.
Following his exit, CARS24 cofounder and CEO Vikram Chopra will reportedly take over Ratnoo’s responsibilities. In an internal email, Chopra thanked Ratnoo for his contributions and wrote, “The India used cars leadership team will work directly with me for the foreseeable future.”
2 March 2026
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Ratnoo’s Work History
In December 2024, CARS24 promoted Ratnoo to the role of CEO of Used Cars India, where he oversaw the company’s consumer-to-business (C2B) and retail operations, with a focus on scaling growth and driving innovation.
During his tenure, Ratnoo led several initiatives, including the development of franchise models, lead monetisation strategies, and a revamped approach to luxury car transactions.
Before his five years and eight months at CARS24, Ratnoo served as Senior Director of Strategy and Investor Relations at BlackBuck (Zinka Logistics Solutions) for nearly two years. Prior to that, he worked as Head of Logistics at Foodpanda and was also the cofounder of Meddo Health.
Ratnoo holds a computer science engineering degree from Birla Institute of Technology and Science Pilani and later pursued management studies at Indian Institute of Management Calcutta.
CARS24 IPO Plans
Ratnoo’s exit comes two months after Chopra reportedly announced plans for a potential IPO for CARS24. In January, Chopra said on LinkedIn that the startup could look to go public within six to twelve months.
While details about the size of the public issue or the targeted valuation were not disclosed, Chopra highlighted improvements in the company’s financial performance as it prepares to tap into the $200 billion used-car market.
In the LinkedIn post, Chopra revealed that the startup’s adjusted net revenue for the first half (H1) of FY26 rose 18% year-on-year to ₹651 crore. The stronger topline growth helped the company reduce its adjusted EBITDA loss by 36% year-on-year to ₹162 crore.
