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Synopsis CarTrade, an online auto classifieds platform, is looking at a valuation of $1.5 billion in the IPO and will look at listing later in the year, depending on market conditions. ETtech CarTrade recently changed its status from a private company to a public one, a prelude to an IPO, company filings sourced by Tofler showed. (Photo: Reuters) Mumbai: Online auto classifieds platform CarTrade has begun preparations for filing the draft prospectus for its initial public offering (IPO) to raise around Rs 2,000 crore, three people directly involved in the process said. It has appointed the investment banking arms of Axis Bank, Citigroup, Nomura and Kotak Mahindra Bank to manage the issue, the people said. The Warburg Pincus and Temasek-backed company helps people buy both new as well as used cars.

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