Read more about IPO-bound Paytm narrows losses to Rs 1,701 cr, reduces expenses in FY21 on Business Standard. Revenue from operations fell 14.5 per cent to Rs 2,802.41 crore during the year, according to the Ant Financial-backed company s annual report
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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.
CarTrade files for IPO
May 17, 2021
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CarTrade platform allows customers to buy/sell new/used cars; its brands are CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, AutoBiz
Online auto classified platform CarTrade Tech has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial share-sale. The initial public offer (IPO) will be entirely an offer-for-sale (OFS) of 12,354,811 equity shares, the draft red herring prospectus (DRHP) filed with SEBI showed on Monday. Among the investors participating in the OFS are CMDB II (16.07 lakh equity shares), Highdell Investment Ltd (53.79 lakh shares), Macritchie Investments Pte Ltd (35.68 lakh shares), Springfield Venture International (11.24 lakh shares) and Bina Vinod Sanghi (1.83 lakh shares).