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CarTrade IPO: A look into its business, COVID-19 impact and plans for the future


6 hours ago
Online automotive classifieds CarTrade plans to raise Rs 2,000 crore through a initial public offering (IPO) and plans to expand into electric vehicles, ride-sharing, vehicle subscription and vehicle servicing services. According to the draft red herring prospectus (DRHP) filed with the Securities Exchange Board of India (SEBI), CarTrade will issue over 12 million equity shares at a face value of Rs 10, translating to 26.96% of its post-offer paid-up equity share capital.
Highdell, which is the company’s biggest shareholder will be selling the biggest stake 5,379,055 equity shares , followed by MacRitchie selling 3,568,217 shares, then CMDB and Springfield. Other shareholders that will sell their shares through the IPO include Bina Vinod Sanghi, Shree Krishna Trust and others. Axis Capital is the lead book-running manager, while Kotak Mahindra Capital Co, Citigroup Capital Markets and Nomura are the investment banks for the IPO. ....

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Balochistan cabinet exempts technical institute project from tax - Newspaper


QUETTA: The Balochistan government has exempted the Pak-China Technical Vocational Insti­tute Gwadar project from payment of stamp duty for 2014 and 2020.
The decision was taken at a meeting of the cabinet held recently with Chief Minister Jam Kamal Khan Alyani in the chair.
Mr Alyani said a comprehensive strategy was being made for all sectors.
The meeting discussed various issues and took important decisions.
The cabinet condemned the terrorist attack on FC personnel on Afghan border in Zhob district and expressed deep sorrow over the loss of lives as a result of the attack.
The meeting expressed concern over the alleged killing of a youth in police firing on Sariab road on Wednesday night and offered condolences to his family. ....

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Pandemic's Toll on the Culture of Indian Startups

Pandemic's Toll on the Culture of Indian Startups
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