INSUBCONTINENT EXCLUSIVE:
CarTrade Tech received a total of 26.31 crore bids for 1.29 crore shares on the offer.CarTrade Tech's Rs 3,000 crore share sale via
initial public offering (IPO) was subscribed 20.29 times by final day of the subscription, data from the National Stock Exchange showed
CarTrade Tech received a total of 26.31 crore bids for 1.29 crore shares on the offer
A total of 1.35 crore bids were received at the cu-toff price.CarTrade Tech shares were in high demand among the non-institutional investors
as portion reserved for them was subscribed 32.48 times
Portion reserved for the Qualified Institutional Buyers was subscribed nearly 19 times out of which Foreign Institutional Investors placed
bids for 4.33 crore shares and Domestic Financial Institutions (Banks, Financial Institutions and Insurance Companies) made bids for 1.88
The portion reserved for QIBs contained 37.06 lakh shares, NSE data showed.Portion for retail investors was subscribed 1.41 times.CarTrade
Tech's IPO was an offer for sale wherein its marquee existing investors, including the likes of Warburg Pincus, Temasek and JP Morgan sold
shares in the three-day share sale which ended on August 11
The company sold shares in the price band of Rs 1,585-1,618 per share.Axis Capital, Citigroup Global Markets India, Nomura Financial
Advisory and Securities (India) and Kotak Mahindra Bank were the lead managers to the public issue of CarTrade, while Link Intime India is
the registrar to the issue.The listing date of CarTrade Tech shares is not yet announced but its tentative date of listing is August 23.
