Shares of CarTrade Tech will make a debut on the bourses today. The initial public offering of CarTrade saw a strong subscription during August 9-11, getting subscribed 20.29 times. While the reserved portion of qualified institutional buyers was subscribed 35.45 times and that of non-institutional investors witnessed 41 times subscription. The retail portion was booked 2.75 times.
The company has fixed the IPO price at ₹1,618, upper end of the price band Rs ₹1,585-1,618
The public issue of 1.85 crore shares was a complete offer for sale by existing selling shareholders. Investor CMDB II sold 22,64,334 equity shares through IPO, Highdell Investment 84,09,364 equity shares, MacRitchie Investments Pte Ltd 50,76,761 equity shares, and Springfield Venture International sold 17,65,309 equity shares.
Anchor investors
CarTrade Tech had raised Rs 900 crore from anchor investors ahead of its initial public offering.
Among the anchor investors included Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Kotak MF and Sundaram MF.
CarTrade is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. Its platforms operate under several brands - CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.