Page 10 - Trade Tech News Today

On August 18, Sensex snapped its four-day record breaking run amid mixed global cues. Sensex closed 162 points lower at 55,629 and Nifty dropped 45 points to 16,568

CarTrade Tech share listed at Rs 1,600, 1.11% lower to the IPO issue price

Benchmark market indices S&P BSE Sensex and NSE Nifty 50 opened lower on Friday as financial stocks dipped. Global cues have also made investors nervous.

CarTrade Tech shares were in very high demand during the three-day share sale via initial public offering which ended on August 11.

Tata Steel, Reliance Industries, Kotak Mahindra Bank, State Bank of India, Larsen & Toubro and ICICI Bank were among the top drags on the Sensex.

CarTrade Tech IPO was an offer-for-sale by marquee investors, including Warburg Pincus, Temasek and JP Morgan

The issue, which was sold in Rs 1,585-1,618 price band, was subscribed 20.29 times on the closing day of the subscription on Wednesday.

CarTrade Tech shares were in high demand among the non-institutional investors as portion reserved for them was subscribed 32.48 times.

The owner of platforms such as CarWale, CarTrade, BikeWale and AutoBiz has a dozen brokerages recommending ‘subscribe ratings to the ‘exorbitantly priced issue, with some suggesting subscribing to it for listing gains while others seeing it worthy of medium to long-term investment.

CarTrade IPO to commence on August 9, aims to raise Rs 2999Cr Online auto classifieds startup CarTrade Tech is all set to launch its initial public offering (IPO) on August 9 and will stay open until August 11 of this year as mentioned on the website Axis Capital the company’s IPO banker. CarTrade has fixed a price band of Rs 1585-1618 apiece with the face value of Rs 10 each. The company further confirmed that bidding for anchor investors will commence on August 6. Background: Nekrashevich f...