IPOs are in top gear on Dalal Street and the next one to drive is CarTrade Tech IPO, which is now open for investors. A digital startup IPO that stands out as it is profitable is making a mark with investors. This mobility platform that is looking to raise about Rs 3,000 crore from the primary market. Here are key things that you should know about the IPO which has 35% reserved for retail investors.
About the Issue
- Issue Dates: August 9-11
- Price Band: Rs 1,585-1,618/share
- Lot Size: 9 shares or in multiples thereof
- Minimum Investment: Rs 14,562/lot
- Maximum Bid: 13 lots
- Issue Size (Pure OFS): 1.85 crore shares
- GMP: Rs 400
About the Company
- Auto platform with coverage and presence across vehicle types and value-added services
- Operates under several brands CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz
- Aims to create digital ecosystem that connects automobile customers, OEMs, dealers, banks, insurance companies and other stakeholders.
- CarWale, CarTrade and BikeWale collectively had an average of 27.11 million unique visitors per month
- Profitable automotive digital platform since FY19
CarTrade Tech listing is likely by August 23, the company is proffesionally managed with no identifiable promoter.