New Delhi: Online Auto Classified Platform Cartrade Tech, Public Offering (IPO) is now open to subscribe.
The company has repaired the ribbon price of 1,585-1,618 per share for the initial offer almost Rs 2,999-Crore.
The initial stock sales will be fully an offer for sale of 18,532,216 equity shares.
The IPO will conclude on August 11.
At the top of the price ribbon, the IPO is expected to mobilize Rs 2,998.51 Crore.
Here are the main things that need to be known about Cartrade IPO: * Cartrade is also a software company that has created interconnections between stakeholders such as dealers, producers, and banks.
* The company cites industry reports to highlight that there is a constant step towards the online car portal and the total market that can be addressed in India is estimated at $ 14.3 billion in TA 2020.
* Carrade is also among the largest automotive data destinations in this country.
* The company expects that the list of equity stocks will increase the visibility and image of its brands and provide liquidity to its shareholders, while also providing public markets for equity stocks in India, according to the Kerring red herring prospect.
* Established in 2009, Carrade was supported by investors Marquee – Warburg Pincus, Temasek, JP Morgan, and March capital.
The cartrade platform allows customers to buy and sell used cars and new cars.
The company states that this is a professionally managed entity and has no promoter that can be identified (in terms of sebi rules).
* As part of OFS, CMDB II will collect 22.64 Equity Stocks Lakh, Highdell Investment Ltd will sell 84.09 Equity Stocks Lakh, Macritchie Investments Pte Ltd will offer 50.76 Equity Shares Lakh and Springfield Venture International Will Divest 17.65 Equity stock lakh.
* The company will not directly receive the results of the offer and all results will be received by the sales holder, comparable to the shares offered sold by each shareholder as part of the offer.
* At present, CMDB II accommodates 11.93 percent of the shares in the CartRade43, Highdell’s investment has 34.44 percent of the shares, Macritche’s investment has 26.48 percent share ownership and Springfield Venture International holds 7.09 percent of shares in the company.
* Carrade offers multi-channel automatic platforms with coverage and presence in various types of vehicles and value-added services through his brand – Carwale, Cartrade, Shriram Automall, Biquiew, CarradeExchange, ADROIT Auto and Autobiz.
* Consumer platform – Carwale, Cartrade, and Biquiewale – collectively get 3.2 crores, the average unique visitor, every month (during the period of 3 months ended March 31, 2021), and the Shriram and other auction platform has 8.14.316 Vehicles registered with auction during the financial year 2020-21.
* The company generates income from commissions and costs from auctions and re-marketing services, online advertising solutions, lead generations, technology-based services to original equipment manufacturers, dealers, banks and other financial institutions, and financial services.
* Half the size of the problem has been reserved for qualified institutional buyers (QIBS), 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.
* AXIS Capital, Citigroup Global Markets India, Box Mahindra Capital Company, and Nomura Financial Advisory and Securities (India) Private Limited is an investment banker for this problem.
(With input from agency)