CarTrade Tech’s Rs 2,999-crore IPO will open for subscription on 9 August 2021, at a price tag band of Rs 1,585-1,618 per share of face worth of Rs 10 every single. The bidding for anchor investors will open on Friday 6 August. The public challenge of this on the internet auto classified platform will be completely an supply for sale (OFS) of 1.85 crore equity shares. As a component of the OFS, CMDB II will offload 22.64 lakh equity shares, Highdell Investment Ltd will sell 84.09 lakh equity shares, Macritchie Investments Pte Ltd will supply 50.76 lakh equity shares and Springfield Venture International will divest 17.65 lakh equity shares. Currently, Highdell Investment owns a 34.44 per cent stake, CMDB II holds an 11.93 per cent stake, MacRitche Investment has 26.48 per cent shareholding and Springfield Venture International holds a 7.09 per cent stake in CarTrade.
In the grey market place on Tuesday, CarTrade Tech shares had been quoting at a premium of Rs 690 more than the IPO price tag. CarTrdae Tech shares had been trading at Rs 2,308 apiece, a premium of 43 per cent in the grey market place, according to the men and women who deal in shares of unlisted organizations. Half of the net supply has been reserved for certified institutional purchasers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. CarTrade is backed by marquee investors such as Warburg Pincus, Temasek, JP Morgan and March Capital.
Investors can make bids for a minimum of 9 equity shares and in multiples thereafter, implying a minimum investment of Rs 14,562 per lot. Investors are needed to make sure that the bank account utilized for bidding is linked to their PAN. Retail person bidders also have the alternative to submit the application straight to the ASBA Bank or to use the facility of linked on the internet trading, demat and bank account. The price tag/earnings ratio based on diluted EPS for FY21 for the firm at the upper finish of the price tag band is 84.31. The weighted typical return on net worth for the last 3 fiscals stood at 3.52 per cent. The challenge will close for subscription on 11 August 2021.
CarTrade Tech is a multi-channel auto platform with coverage and presence across car forms and worth-added services via 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) Private Limited are the investment bankers to the challenge. Link Intime India Private Ltd is the registrar to the challenge.