CARS24 India CEO Himanshu Ratnoo steps down

New Delhi: CARS24’s India CEO, Himanshu Ratnoo, is set to resign from his position after more than five years with the company, according to news reports. Following his departure, co-founder and CEO Vikram Chopra will take over Ratnoo’s responsibilities for the India used cars business.

During his tenure as India CEO, Ratnoo oversaw the company’s consumer-to-business (C2B) and retail operations, focusing on growth and operational strategies. His initiatives reportedly included developing franchise models, enhancing lead monetisation approaches, and restructuring luxury car transactions.

Before joining CARS24, Ratnoo worked as Senior Director of Strategy and Investor Relations at BlackBuck (Zinka Logistics Solutions) for nearly two years. He also held the position of Head of Logistics at Foodpanda and co-founded Meddo Health.

Ratnoo holds a computer science engineering degree from Birla Institute of Technology and Science, Pilani, and later completed management studies at the Indian Institute of Management, Calcutta.

Ratnoo’s resignation comes approximately two months after Chopra indicated plans for a potential initial public offering (IPO) for CARS24. Reports note that the company’s adjusted net revenue for the first half of FY26 rose 18% year-on-year to Rs 651 crore, while its adjusted EBITDA loss fell by 36% to Rs 162 crore.