CarTrade’s initial public offering was subscribed 20.29 times by the end of its bidding day, i.e., 11 August 2021.
The company’s public offer managed to receive bids for 26,31,74,823 shares against the total issue of 1,29,72,552 shares. These figures indicate that the IPO managed to garner a positive response from the investors.
Through this initial public offer, CarTrade aimed to raise Rs. 3,000 crores at its upper band price limit. Per its DRHP, this IPO comprised an offer for sale (OFS) of a total of 12,354,811 extended by its marquee investors. The said shares are in the price range of Rs. 1,585 to Rs. 1,618 apiece.
CarTrade’s IPO Performance: Final Verdict
This is how CarTrade IPO fared across the different investor segments by the end of its last and final day of subscription.
- Qualified institutional buyers (QIBs) bid for 13,13,88,732 shares against the 37,06,443 shares reserved for them.
- Non institutional investors (NIIs) sought 11,39,70,366 shares out of the 27,79,833 reserved shares.
- Retail individual investors bid for 1,78,15,725 shares against the 64,86,276 shares
Here’s a tabular representation of CarTrade’s IPO performance across different investor segments.
|35.45 times||2.75 times||41.00 times||20.29 times|
The QIB category was allocated 28.57% shares, whereas the NII and RII categories were allocated 21.43% and 50.00% of shares in this public offer.
An Overview of CarTrade’s Anchor Investment
CarTrade managed to raise Rs. 900 crores from its anchor investors, ahead of its IPO. A total of 5,559,664 equity shares were allotted to the company’s anchor investors. Out of those reserved shares, 33.35% were allotted to nine domestic mutual funds through 30 schemes.
- HDFC MF
- Kotak MF
- HSBC Global
- Sundaram MF
- Goldman Sachs
- Axis Mutual Fund
- Jupiter India Fund
- Elara India Opportunities Fund
- Bharti Axa Life Insurance Company
- Bajaj Allianz Life Insurance Company
- Aditya Birla Sun Life Insurance Company
- JP Morgan
- Warburg Pincus
Entities such as Citigroup Global Markets India, Kotak Mahindra Bank, Axis Capital and Nomura Financial Advisory and Securities (India) are the lead managers of this initial public offer. Also, Link Intime India is the registrar for CarTrade’s initial public offer.
CarTrade IPO: Day 1 and Day 2 Highlights
Here’s a tabular representation of CarTrade’s IPO status as on day 1 and day 2 of its public offer.
|Bidding Day||Qualified Institutional Buyers||Retail Investors||Non Institutional Investors||Total|
|Day 1||0.01 times||0.80 times||0.03 times||0.41 times|
|Day 2||0.59 times||1.53 times||0.27 times||0.99 times|
CarTrade’s initial public offering concluded on a strong note. The company shares managed to draw in investors from different categories and performed well in every segment.
It seems that the strong prospects of the automotive sector coupled with the robust financial standing and competitive business model worked in its favour. Collectively, these pointers catalysed the success of this public offer.
Frequently Asked Questions
- When in CarTrade IPO list?
CarTrade IPO will list on the stock exchanges on 23 August 2021.
- When will I receive CarTrade IPO shares?
CarTrdae IPO shares will be credited to your DEMAT account on 20 August 2021.
- When will CarTrade refunds be initiated?
CarTrade IPO refunds will be initiated from 18 August 2021.
- What was the employee discount for CarTrade IPO?
There was no employee discount for CarTrade IPO.
- Where will CarTrade shares list?
CarTrade shares will list on NSE and BSE.