#CarTrade #launches #IPO #details
CarTrade IPO Launch: CarTrade company has launched its IPO on the morning of 9th August 2021. With this IPO launch, there is a desire to know all the details about this new IPO among the people investing in the stock market.
Mumbai. Online auto classifieds platform CarTrade has launched its IPO (Initial Public Offering) in the market on the morning of Monday 9th August 2021. Some time back CarTrade company had announced to launch its IPO in the market. In such a situation, since this announcement, there has been a desire among people to know about the IPO of this company.
What is CarTrade
CarTrade is an online auto classifieds platform. It can also be called multi channel auto platform. Vinay Sanghi started it in 2010 after the idea of this company in 2009. The main headquarters of CarTrade is located in Mumbai. Through CarTrade company people can buy and sell new and used second hand vehicles online. Along with this, CarTrade also provides online auction and sale facility to the dealers. Apart from its online marketplace, it has over 4,000 dealers across 80 cities in India. Also, CarTrade’s website has more than 1,65,000 certified used vehicles. On BikeWale, another portal of CarTrade, people can buy or sell new or used second hand two-wheelers. A portal named CarWale is also available for buying and selling of vehicles. The features of the vehicles can also be seen on it.
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CarTrade is set to raise Rs 2,998.51 crore through this IPO issue.
Price Band for CarTrade IPO
The price band of CarTrade’s IPO has been kept at Rs 1,585-1,618.
Subscription window for IPO
The subscription window for CarTrade’s IPO has started with its launch today, August 9, 2021. This window will be open for 3 days and will close on 11th August. For institutional investors, it opened a day earlier i.e. on August 8.
IPO lot size
After this IPO issue of CarTrade, investors can buy at least 9 equity shares. For this, they will have to invest at least Rs 14,562. If you get allotment of shares then these rupees are debited from your bank account. If the allotment is not done, this money remains in your bank account. A retail investor can apply for a maximum of 13 lots or 117 shares for Rs 1,89,306.
offer for sale
CarTrade IPO will be purely offer for sale based. Under this, the stake will be reduced by the existing shareholders and promoters. There will be sale of 18,532,216 equity shares in OFS. In this IPO 22.64 lakh shares of CMDB II, 84.09 lakh shares of Highdell Investment Ltd, 50.76 lakh shares of Macritchie Investments Pte Ltd and 17.65 lakh shares of Springfield Venture International will be sold.
stake in CarTrade
Currently, CMDB II holds 11.93% in CarTrade, Highdell Investment 34.44%, MacRitche Investment 26.48% and Springfield Venture International 7.09%.
50% of the CarTrade IPO issue is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors.
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