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CarTrade Tech Limited, an online auto portal company, is set to open for initial public offering on August 9 and close on August 11. The company has fixed the price band at Rs 1585 to Rs 1618 apiece. It is planning to raise about Rs 2998.51 crore. The IPO has only offer for sale of 1.85 crore equity shares by existing shareholders and promoters. The company is not issuing any fresh shares.
Company Summary
CarTrade is a leading online auto portal for buying and selling both used and new two-wheelers and cars. The company was the only profitable platform in FY 2020, compared with other players in the industry.
They have different businesses under various brand names like CarWale, BikeWale, CarTrade, CarTrade Exchange, Shriram Automall, Adroit Auto and AutoBiz.
The company’s platforms had an average unique visitor of 31.99 million per month as of March end of 2021 and 814,316 vehicles were listed for auction in FY 2021.
Company Strengths
- Leading marketplace for automotive sales with a robust ecosystem
- Strong and trusted brands improving consumer confidence and having a positive effect on consumer behaviour
- Leveraging proprietary end-to-end technology platforms
- Focusing on data science and in-house algorithms to provide superior solutions to customers
- Profitable and scalable business model, and well-positioned to benefit from growth of the automotive sector and digitalization
Company Promoters
CarTrade is a professionally managed company and does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act
Financial Summary
Particulars | For the period ended (Rs in crore) | ||||
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
Total Assets | 1930.19 | 1470.41 | 1427.09 | ||
Total Revenue | 281.52 | 318.45 | 266.80 | ||
Profit After Tax | 101.07 | 31.29 | 25.92 | ||
Purpose of the IPO
The Company will not directly receive any net proceeds from the offer and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by the respective selling shareholders as part of the offer for sale.
The company expects that listing of the equity shares will enhance their visibility and brand image and provide liquidity to their shareholders and will also provide a public market for the equity shares in India.
IPO Details
IPO Opening Date | Aug 9, 2021 |
IPO Closing Date | Aug 11, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | ₹10 per equity share |
IPO Price | ₹1585 to ₹1618 per equity share |
Market Lot | 9 Shares |
Min Order Quantity | 9 Shares |
Listing At | BSE, NSE |
Issue Size | Rs 2,998.51 crore |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 9 | ₹14,562 |
Maximum | 13 | 117 | ₹189,306 |