CarTrade Tech IPO subscribed 20.29 times on closing day

By: |
August 11, 2021 8:31 PM

The category for qualified institutional buyers (QIBs) received 35.45 times subscription, while the portion for non-institutional investors was subscribed 41 times. The retail individual investors (RIIs) quota was subscribed 2.75 times.

IPOThe three-day IPO received bids for 26,31,74,823 shares against 1,29,72,552 shares on offer, as per exchanges data.

The initial public offer of CarTrade Tech was subscribed 20.29 times on the closing day of the subscription on Wednesday.

The three-day IPO received bids for 26,31,74,823 shares against 1,29,72,552 shares on offer, as per exchanges data.

The category for qualified institutional buyers (QIBs) received 35.45 times subscription, while the portion for non-institutional investors was subscribed 41 times. The retail individual investors (RIIs) quota was subscribed 2.75 times.

The Rs 2,998.51-crore initial public offer (IPO) of up to 18,532,216 equity shares, was in a price range of Rs 1,585-1,618 per share.

CarTrade Tech on Friday said it has raised Rs 900 crore from anchor investors.

Founded in 2009, CarTrade is backed by marquee investors—Warburg Pincus, Temasek, JPMorgan, and March Capital.

The CarTrade platform allows customers to buy and sell used cars as well as new cars.

The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands—CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz.

Axis Capital, Citigroup Global Markets India, Kotak Mahindra Capital Company and Nomura Financial Advisory and Securities (India) were the managers of the offer.

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