Page 21 - Trade Tech News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 ...

CarTrade is the first auto classifieds marketplace in India to file an IPO. CarTrade has filed for an initial public offer (IPO), becoming the first auto classifieds marketplace to do so in India. The company plans to raise around Rs. 2,000 crore via the IPO. It is said that the company has filed its draft red herring prospectus (DRHP) with SEBI. There is no fresh issue of shares and the IPO consists of a pure offer for sale (OFS) of 12,354,811 equity shares. CarTrade Tech Ltd. is backed by Temasek, Warburg Pincus, March Capital and JP Morgan among others. The IPO is expected to facilitate a ...