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CarTrade Tech files DRHP for IPO, intends to raise ₹2,000 cr

CarTrade Tech files DRHP for IPO, intends to raise ₹2,000 cr May 17, 2021 Entire issue will be through offer for sale Mumbai-based online auto classified platform CarTrade Tech has filed early papers with markets regulator to raise funds through an initial public offering, which will be entirely offer for sale. The company, which operates several brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz, intends to raise about ₹2,000 crore, market sources said. According to the Draft Red Herring Prospectus, the OFS would be up to 1.24 crore shares by CMDB II, Highdell Investment Ltd, Macritchie Investments Pte. Ltd, Springfield Venture International and individual promoter investors.

IPO alert: Sequoia Capital-backed Aptus Value Housing files for Rs 3,000 crore IPO

Bongkarn Thanyakij Housing finance company Aptus Value Housing Finance Limited (AVHFIL) filed its papers with the market regulator SEBI to raise around Rs 2,600 - 3,000 crore. The fund raised through the initial public offering (IPO) will be used to increase the company’s capital base and to meet future growth requirements. The fund raise comprises a fresh issue of equity shares aggregating to 500 crore and an offer for sale of upto 6.45 crore equity shares by promoter and other selling shareholders. The company had marquee investors like West Bridge Crossover Fund, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India. As of December 31, 2020, the company’s AUM stood at Rs 3,790.93 crore of which 72.50 per cent were loans to self-employed customers while the balance 27.50 per cent accounted for salaried individuals.

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