Incorporated in 2000, CarTrade Tech Ltd is a multi-channel auto platform provider company. The company operates various brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz. The platform connects new and used automobile customers, vehicle dealers, vehicle OEMs, and other businesses to buy and sell different types of vehicles. The company offers a variety of solutions across automotive transactions for buying, selling, marketing, financing, and other activities.
CarTrade – Noteworthy Highlights
- This company has regional operations in India. It has a network of over 5,100 distributors spread across 90 cities in the country.
- Currently, more than 2,36,000 used vehicles are registered on CarTrade’s online platform.
- As of now, CarTrade has raised $307.4 million worth of funds over 8 rounds. Its last funding was on 12 April 2021.
- The principal shareholders of this company include Highdell Investments and MacRitchie Investments. Together, they hold Almost 70% shares of CarTrade.
- In 2015, CarTrade completed the acquisition of CarWale for $90 million in an all-cash deal. This takeover turned out to be a massive boost for CarTrade’s top line.
CarTrade Tech IPO Details
| IPO Opening Date | Aug 9, 2021 |
| IPO Closing Date | Aug 11, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹1585 to ₹1618 per equity share |
| Market Lot | 9 Shares |
| Min Order Quantity | 9 Shares |
| Listing At | BSE, NSE |
| Issue Size | 18,532,216 Eq Shares of ₹10 (aggregating up to ₹2,998.51 Cr) |
| Offer for Sale | 18,532,216 Eq Shares of ₹10 (aggregating up to ₹2,998.51 Cr) |
CarTrade Tech IPO Tentative Timetable
| IPO Open Date | Aug 9, 2021 |
| IPO Close Date | Aug 11, 2021 |
| Basis of Allotment Date | Aug 17, 2021 |
| Initiation of Refunds | Aug 18, 2021 |
| Credit of Shares to Demat Account | Aug 20, 2021 |
| IPO Listing Date | Aug 23, 2021 |
Competitive Strengths
- A leading platform for Automotive Sales with a Synergistic Ecosystem.
- Operate various brands i.e. CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, AutoBiz, etc.
- A comprehensive range of services i.e. automotive buying, selling, financing, marketing, etc.
- Profitable and scalable business model.
To apply for IPO, open dmat account with Angel Broking with link in bio
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