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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 from Pexels × CarTrade Logo The initial public offering (IPO) consists of a straight-up offer for sa...