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CarTrade IPO to open next week: Check price band, opening date other key details
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Profitable Multi-Channel Auto Platform CarTrade Tech Limited s IPO to open on August 09, 2021
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CarTrade Tech Limited gets SEBI approval to float Rs 2000 crore IPO
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6 hours ago
Online automotive classifieds CarTrade plans to raise Rs 2,000 crore through a initial public offering (IPO) and plans to expand into electric vehicles, ride-sharing, vehicle subscription and vehicle servicing services. According to the draft red herring prospectus (DRHP) filed with the Securities Exchange Board of India (SEBI), CarTrade will issue over 12 million equity shares at a face value of Rs 10, translating to 26.96% of its post-offer paid-up equity share capital.
Highdell, which is the company’s biggest shareholder will be selling the biggest stake 5,379,055 equity shares , followed by MacRitchie selling 3,568,217 shares, then CMDB and Springfield. Other shareholders that will sell their shares through the IPO include Bina Vinod Sanghi, Shree Krishna Trust and others. Axis Capital is the lead book-running manager, while Kotak Mahindra Capital Co, Citigroup Capital Markets and Nomura are the investment banks for the IPO.
CarTrade Tech files DRHP for IPO, intends to raise ₹2,000 cr
May 17, 2021
Entire issue will be through offer for sale
Mumbai-based online auto classified platform CarTrade Tech has filed early papers with markets regulator to raise funds through an initial public offering, which will be entirely offer for sale.
The company, which operates several brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz, intends to raise about ₹2,000 crore, market sources said.
According to the Draft Red Herring Prospectus, the OFS would be up to 1.24 crore shares by CMDB II, Highdell Investment Ltd, Macritchie Investments Pte. Ltd, Springfield Venture International and individual promoter investors.