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Indian auto classifieds firm CarTrade to soon file for $266m IPO

Indian auto classifieds firm CarTrade to soon file for $266m IPO India Gate. Photo: Abhidev Vaishnav/unsplash May 2, 2021 Auto classifieds company CarTrade is planning to file the draft red herring prospectus (DRHP) for its initial public offering (IPO) in the next 10-15 days, two people aware of the development said. “They are ready to file DRHP. Final touches are being put on the document. It should happen in the next 10-15 days. This will be the first online auto classifieds company to go public in India,” the first person cited above said, requesting anonymity as he is not authorized to speak with the media.

IPO bells: CarTrade plans to go public, raise Rs 2000 crore: Report

Highlights The company was founded in 2010 by Vinay Sanghi. CarTrade runs an online auto classifieds platform that helps customers buy new or old cars. CarTrade is reportedly planning to file the draft red herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) within the next 10-15 days to go public. The company is gearing up for an initial public offering (IPO) in the coming weeks, according to a report by Mint.   The auto classifieds company is reportedly looking to bag around Rs 2000 crore with its IPO. The company is being advised by investment banks such as Citi, Nomura, Axis Capital and Kotak Mahindra Capital on the IPO.

Glenmark Life Sciences sets Indian IPO rolling

By Jonathan Breen 08.15 AM India’s Glenmark Life Sciences, a pharmaceutical ingredients maker, has filed draft paperwork for an IPO of new and existing shares. The company, a wholly-owned subsidiary of Glenmark Pharmaceuticals, plans to issue Rp11.6bn ($154.9m) of equity for the listing, while its parent will sell 7.3m secondary shares through an offer-for-sale (OFS).Kotak Mahindra Capital is leading the IPO syndicate, which includes global co-ordinators Bank of America and Goldman Sachs, . Already a subscriber? Login

India s Glenmark Life Sciences files for IPO to raise funds

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