INSUBCONTINENT EXCLUSIVE:
CarTrade Tech IPO: The shares are likely to be listed on the BSE and NSE on August 23CarTrade Tech's Rs 2,000 crore initial public offering
(IPO) will open for subscription on August 9 and close on August 11
The multi-channel auto platform's IPO will be an offer-for-sale of 12,354,811 shares by marquee investors such as Warburg Pincus, Temasek
The company has fixed the price band at Rs 1,585-1,618 per share
NSE on August 23.A total of 75 per cent of the share offering has been fixed for qualified institutional buyers, 15 per cent for
non-institutional investors and 10 per cent for retail bidders
Investors can bid for a minimum one lot of nine shares and in multiples thereof, up to 13 lots
The company will not receive any share proceeds as this is an offer for sale and not a fresh issue of shares.CarTrade is an online auto
marketplace platform that enables buyers and sellers to transact in new and used vehicles
It operates various brands such as CarWale, CarTrade, Shriram Automall and BikeWale
It was founded by Vinay Sanghi, former CEO of Mahindra First Choice, and Rajan Mehra, former country head of eBay India in the year 2009 and
is backed by marquee investors 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 managers to the public issue, whereas Link Intime India is the
