CarTrade.com IPO GMP Today Subscription Status Grey Market Premium

Along with Nuvoco Vistas, CarTrade is also starting the public offering today. With the issue, CarTrade will raise around Rs. 14,628 crore by the end. So far, retail investors have subscribed 0.30 times, however, qualified institutional buyers and non-institutional investors have not bid so far. In this post, we have mentioned the CarTrade.com IPO GMP Today. Check Car Trade IPO Subscription Status and CarTrade.com IPO Grey Market Premium.

CarTrade.com IPO GMP Today

With the price band of Rs. 1585 to Rs. 1618 per share, CarTrade has started the IPO of Rs. 2999 crore today. You must be aware that CarTrade Tech is a platform that lets one sell and buy cars easily. On Friday, the company notified that it has been able to raise Rs. 900 crore from anchor investors. For the IPO, the company has decided to provide 55,59,664 shares to the investors at a maximum of Rs. 1618 per share. With this, the company can raise a transaction of Rs. 899.55 crore. This issue is an offer for sale and has 18,532,216 equity shares. Since the IPO started today, the issue is to end on 11th August 2021. Thus, by the end, the IPO can mobilize Rs. 2998.51 crore. Currently, the company is commanding an IPO premium of Rs. 380 to Rs. 385 apiece.

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Even though the company deals in cars, it is preparing a digital ecosystem in India. From January to March, the company had 32 million visitors and 80% of these were organic. The main work of the company is to make people buy and sell vehicles. But, it also interconnects manufacturers, dealers, and banks. The company also mentioned that these days, there is constant growth in online auto platforms. Furthermore, CarTrade Tech is one of the largest automotive data destinations. We told you that the IPO will end on 11th August 2021. In this period, the IPO will stand at a price band of Rs. 1585 to Rs. 1618 per share. On the upper end of the price band, the company can mobilize around Rs. 2998 crore. On 17th August 2021, the company will finalize a Basis of Allotment. Last week, the CarTrade Premium fell from Rs. 700 to Rs. 310.

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CarTrade Tech IPO Grey Market Premium

Now, we would like to give you a brief about the company. CarTrade is a multi-trade platform for auto services that covers all vehicle types and value-added services. Also, the services are provided under various names. These are CarWale, CarTrade, Shriram, BikeWale, Automall, Adroit Auto, CarTradeExchange, and AutoBiz. The company provides used and new automobile customers, vehicle OEMs, and vehicle dealerships through these platforms. The company has focused on creating a digital ecosystem that enables a connection among dealers, customers, OEMs, insurance companies, banks, and stakeholders.

Since the company started in 2009, it has been backed by many investors. These are Warburg Pincus, JP Morgan, Temasek, and March Capital. Through the company’s platforms, people can buy and sell used cars, and also new cars. The company has also mentioned that it doesn’t have any identifiable promoter.

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