INSUBCONTINENT EXCLUSIVE:
CarTrade Tech was founded by Vinay Sanghi and Rajan Mehra in the year 2009CarTrade Tech, the owner of Carwale, has gotten approval from the
Securities and Exchange Board of India (SEBI) for its Rs 2,000 crore going public (IPO)
The IPO will be an offer-for-sale of 12,354,811 shares by marquee financiers such as Warburg Pincus, Temasek and JP Morgan.The business will
not receive any profits from the share sale as this is an offer for sale and not a fresh concern of shares.CarTrade Tech had submitted its
draft red herring prospectus with SEBI on May 15, 2021CarTrade has actually scheduled 75 per cent of the market offering for qualified
institutional purchasers, 15 per cent for non-institutional investors and 10 percent for retail bidders.CarTrade was established by Vinay
Sanghi, former CEO of Mahindra First Choice, and Rajan Mehra, former nation head of eBay India in the year 2009
It is an online vehicle market platform that allows purchasers and sellers to transact in new and pre-owned lorries
CarTrade is backed by marquee financiers such as Temasek, Warburg Pincus and JP Morgan.Axis Capital, Citigroup Global Markets India, Nomura
Financial Advisory and Securities (India) and Kotak Mahindra Bank are the lead supervisors to the public concern, whereas Link Intime India
is the registrar to the concern.
