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CarTrade Tech Limited IPO Details

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CarTrade Tech IPO Date, Price, GMP, Review, Allotment, Subscription, Analysis & Documents

About CarTrade Tech

CarTrade Tech platforms, CarWale and BikeWale, ranked number one on relative online search popularity when compared to their key competitors over the period from April 2020 to March 2021, while Shriram Automall is one of the leading used vehicle auction platforms based on number of vehicles listed for auction for the financial year 2020. Among the key competitors, CarTrade Tech is the only profitable automotive digital platform for the financial year 2020

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CarTrade Tech is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. The platforms operate under several brands:

  • CarWale
  • CarTrade
  • Shriram Automall
  • BikeWale
  • CarTrade Exchange
  • Adroit Auto and
  • AutoBiz.

Through these platforms, CarTrade Tech enable new and used automobile customers, vehicle dealerships, vehicle OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner. The vision is to create an automotive digital ecosystem which connects automobile customers, OEMs, dealers, banks, insurance companies and other stakeholders.

The automotive ecosystem is highly fragmented and complex. The process of buying vehicles requires buyers to go through several channels and numerous stages. The multiplicity of transactions creates potential inefficiencies and can negatively affect the margins of the seller that can be achieved on the sale of a vehicle.

Collectively, the inefficiencies in the ecosystem highlight the opportunity for an online automotive marketplace to bring together and match the right vehicle buyers and vehicle sellers on a single platform. Accordingly, there has been a constant move towards online automotive portals, and the total addressable market for online automotive portals in India was estimated at US$ 14.3 billion in the financial year 2020.

Important Details – CarTrade Tech

DateDetails
April 28, 2000The company was incorporated as ‘Kaymo Fastener Company Private Limited’ at Mumbai, Maharashtra as a private limited company
August 12, 2009The name of the company was subsequently changed to ‘MXC Solutions India Private Limited’
April 20, 2021The name of the company was thereafter changed to ‘CarTrade Tech Private Limited’
April 29, 2021The company was converted from a private limited company to a public limited company and the name of the Company was changed to ‘CarTrade Tech Limited’.

Objects of the Issue

The objects of the Offer are to

(i) to carry out the Offer for Sale; and
(ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.

CarTrade Tech Limited Financials:

Summary of financial Information (Restated Consolidated Statement)

Particulars For the year ended (₹ in million)
  31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 19,301.99 14,704.06 14,270.94
Total income 2,815.23 3,184.45 2,668.05
Profit After Tax 1,010.74 312.94 259.17

CarTrade Tech IPO Price – Details

DescriptionDetails
Public IssueInitial Public offer of 18,532,216 Equity Shares of ₹ 10
(aggregating up to[.]) and an Offer for Sale of up to 18,532,216 equity shares (aggregating up to [.])
Issue Open  Date09-Aug-21
Issue Close Date11-Aug-21
Issue TypeBook Built
IPO Price Band₹ 1585 – ₹ 1618
Face Value ₹ 10
Market Lot 9 Equity Shares and in multiples thereof
Minimum Order Quantity 9 Equity Shares
Maximum Subscription Amount for Retail InvestorRs. 2,00,000
Listing NSE, BSE
NSE Symbol
IPO Market Timings 10.00 a.m. to 5.00 p.m.

CarTrade Tech IPO DRHP & RHP

CarTrade Tech IPO Lot Size

ApplicationLotsNo of SharesAmount (Rs)
Minimum19 ₹ 14,562
Maximum13117 ₹ 1,89,306

CarTrade Tech IPO Lead Managers

  • Axis Capital Limited
  • Citigroup Global Markets India Private Limited
  • Kotak Mahindra Capital Company Limited
  • Nomura Financial Advisory and Securities (India) Private Limited

CarTrade Tech Registrar

CarTrade Tech IPO Allotment Date, Listing Date and other Important Dates

DetailsDate
Bid / Offer Opens on09-Aug-21
Bid / Offer Closes on11-Aug-21
Finalisation of Basis of Allotment17-Aug-21
Initiation of refunds 18-Aug-21
Credit of the Equity Shares20-Aug-21
Commencement of trading – Listing23-Aug-21

Company Registered and Corporate Office

12th Floor, Vishwaroop IT Park,
Sector 30A, Vashi,
Navi Mumbai 400 705,
Maharashtra, India
Tel: +91 22 6739 8888

CarTrade Tech IPO – FAQS

When CarTrade Tech IPO will open ?

The CarTrade Tech IPO opens on Aug 09, 2021 and closes on Aug 11, 2021

What is the lot size of CarTrade Tech IPO ?

The CarTrade Tech IPO lot size is 9 Shares and the minimum order quantity is 9 Shares.

What is the price band for CarTrade Tech IPO ?

The CarTrade Tech IPO price band at ₹ 1585 – ₹ 1618 per share

Who is the Registrar for CarTrade Tech IPO ?

The Registrar is Link Intime India Private Limited

How to apply in CarTrade Tech IPO through UPI?

Check the step by step process here – Click here

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