CarTrade Tech IPO shares set to list on NSE and BSE on August 20: Here's what GMP suggests

CarTrade Tech IPO's subscription, share allotment and refund have been done. Now, the initial public offering is all set to make its debut on the Indian bourses, i.e., National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The CarTrade Tech IPO is likely to list on Friday, August 20. The IPO received massive support from investors, with the issues subscribing 20.29 times.

CarTrade Tech Share Listing: What does Grey Market Premium (GMP) suggest?

CarTrade GMP: In the grey market, the shares fell from Rs 180 to Rs 120 earlier this week over the issues price of 1,618, suggesting a modest listing gain of 7.4%.

• CarTrade IPO listing Date: Likely on February, August 20

The CarTrade Tech IPO saw a good response from investors. The qualified institutional buyers witnessed 35.45 times more subscriptions, while the retail portion booked 2.75 times. The portion for non-institutional buyers was subscribed 41 times.

Founded in 2009, the multi-channel auto platform CarTrade has several marque investors like JP Morgan, Warburg, Temasek and March Capital. The digital auto platform shares details about the automobile sector and allows users to trade used and new cars. Brands like CarWale, AutoBiz, Shriram Automall, Adroit Auto, CarTrade, BikeWale and CarTrade Exchange are all part of CarTrade. Notably, it is the only profit-making auto platform since FY19 among its competitors.

The company generates revenues through various modes primarily involving commission and fees from auction, lead generation, online advertising and technology-based services.

CarTrade Tech defines itself as an automotive portal for cars. Customers come to CarTrade to buy new or used cars or to sell their cars. They can also research our content and use our tools such as car reviews, price guides, car specifications, car images, used car inventory, car finance offers and trade-in tools. They can inquire about a new or used car and we connect them to a new or used car dealer or OEM.

The company claims that it has 31.9 million unique monthly visitors and has more than 8 lakhs vehicles listed.