CarTrade IPO opens on August 9: Check issue price, lot size, price band, GMP & more

The current period is a superior time for debuting on the Indian Capital Market, anchored by Zomato's outstanding performance. Following the footsteps, CarTrade Tech IPO (Initial Public Offering) will open for subscription on Monday, August 9, 2021. CarTrade IPO will remain open for bidding till Wednesday, August 11. During the same, Nuvoco Vistas Corporation will also open its IPO for subscription. Here are a few key points you should know, including CarTrade GMP, before subscribing to the issue.

CarTrade IPO: Things you should know

• CarTrade IPO Date: CarTrade Tech's public issue will open for bidding on Monday, August 9, and will be available till August 11, 2021.
• CarTrade Tech IPO size: The public issue is a complete offer for sale (OFS) of 1.85 crore equity shares by the selling shareholders. The multi-channel auto platform plans to raise about Rs 2,998.51 crore.
• CarTrade price band and lot size: The firm's management has fixed the issue price of Rs 1,585-1,618 per equity share. A bidder can apply a minimum of one lot which comprises nine shares. At maximum, the bidder can apply for 13 lots.
• CarTrade GMP: In the grey market, CarTrade Tech shares are sailing at a premium of Rs 25, which suggests around a 25% gain on the listing.
• CarTrade IPO allotment date: The share allotment is likely to take place on August 17.
• CarTrade Tech listing: The IPO is likely to be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on August 23.

Last week, CarTrade had announced that it trained Rs 900 crore from anchor investors. As per the circular uploaded on BSE, the company allocated 55,59,664 equity shares at Rs 1,619 per share, aggregating Rs 899.55 crore transaction. The anchor investors included Nomura, Goldman Sachs, HSBC Global, Elara India Opportunities Fund, Jupiter India Fund, Bajaj Allianz Life Insurance Company, Aditya Birla Sun Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Sundaram MF, Kotak MF and Bharti Axa Life Insurance Company.

About CarTrade

Founded in 2009, CarTrade has several marque investors like Temasek, Warburg, March Capital and JP Morgan. The online platform shares updates about the auto sector and allows customers to trade used and new cars. Brands like Shriram Automall, CarWale, CarTrade. BikeWale, AutoBiz, Adroit Auto and CarTrade Exchange all come under CarTrade. Among key competitors, it is the only profit-making digital platform since FY19.

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