CarTrade Tech's IPO begins today at a price range of Rs1,585-1,618 per share
CarTrade Tech has begun its initial public offering (IPO) today. Subscriptions for the issue will be accepted until August 11, 2021. The issue consists of the promoters' offer to sell up to 18,532,216 equity shares worth Rs2,998.51 crore.
CarTrade is a multi-channel auto platform that provides coverage and presence across vehicle types and value-added services. CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz are some of the company's platforms.
CMDB II, Highdell Investment, Macritchie Investments, Springfield Venture International, Bina Vindo Sanghi, Daniel Edward, Shree Krishna Trust, Victor Anthony Perry III, and Vinay Vinod Sanghi are among the promoters.
Of the total issue, 50% is reserved for qualified institutional buyers (QIBs), 35% is reserved for retail individual investors, and the remaining 15% is reserved for non-institutional investors (NII).
The company has set a price range of Rs1,585-1,618 per share with a face value of Rs 10 each for the issue.
The company will not use the proceeds from the IPO.
Prior to its initial public offering, the company has already raised approximately Rs900 crore from anchor investors. Nomura, HSBC Global, Goldman Sachs, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Kotak MF, Jupiter India Fund, Elara India Opportunities Fund, Axis Mutual Fund (MF), HDFC MF, and Sundaram MF were among the anchor investors.
The book running lead managers for the IPO are Axis Capital, Citigroup Global Markets, Kotak Mahindra Capital, Nomura Financial Advisory, and Link Intime.
The company's platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner. Our goal is to build an automotive digital ecosystem that connects car buyers, OEMs, dealers, banks, insurance companies, and other stakeholders.
The company offers OEMs and dealers technology solutions such as dealer management systems and auto finance solutions. OEMs and dealers can use these solutions to improve the efficiency of their own processes, dealers, and customers, as well as create special offerings for their customers.
CarTrade is a multi-channel auto platform that provides coverage and presence across vehicle types and value-added services. CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz are some of the company's platforms.
CMDB II, Highdell Investment, Macritchie Investments, Springfield Venture International, Bina Vindo Sanghi, Daniel Edward, Shree Krishna Trust, Victor Anthony Perry III, and Vinay Vinod Sanghi are among the promoters.
Of the total issue, 50% is reserved for qualified institutional buyers (QIBs), 35% is reserved for retail individual investors, and the remaining 15% is reserved for non-institutional investors (NII).
The company has set a price range of Rs1,585-1,618 per share with a face value of Rs 10 each for the issue.
The company will not use the proceeds from the IPO.
Prior to its initial public offering, the company has already raised approximately Rs900 crore from anchor investors. Nomura, HSBC Global, Goldman Sachs, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Kotak MF, Jupiter India Fund, Elara India Opportunities Fund, Axis Mutual Fund (MF), HDFC MF, and Sundaram MF were among the anchor investors.
The book running lead managers for the IPO are Axis Capital, Citigroup Global Markets, Kotak Mahindra Capital, Nomura Financial Advisory, and Link Intime.
The company's platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner. Our goal is to build an automotive digital ecosystem that connects car buyers, OEMs, dealers, banks, insurance companies, and other stakeholders.
The company offers OEMs and dealers technology solutions such as dealer management systems and auto finance solutions. OEMs and dealers can use these solutions to improve the efficiency of their own processes, dealers, and customers, as well as create special offerings for their customers.
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