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About CarTrade IPO

Established in 2009, CarTrade is India’s leading online marketplace where individuals can transact in new and used vehicles. The platform also acts as an information source for consumers. One can get access to news and information regarding automobiles along with expert car reviews that assist buyers in choosing the right vehicles. Since the commencement of operations, the company has managed to expand its offerings. Currently, its network comprises more than 4,000 dealers all over India.

About CarTrade IPO Objectives

- To carry out an offer for sale
- To achieve the benefits of listing the Equity Shares on the stock exchanges

CarTrade IPO - Details

CarTrade has filed preliminary papers with SEBI for an initial public offering (IPO) of 18,532,216 equity shares. As per the Mumbai-based company’s Draft Red Herring Prospectus (DRHP), its public issue will comprise an offer for sale (OFS) by promoters. That said, there will not be any fresh issue. CarTrade plans to raise roughly Rs. 2998 crores via its initial public offering.

Opening Date

09 August 2021

Closing Date

11 August 2021

Price Band

₹1585 - ₹1618

per equity share

Issue Size

₹ 2998.51 crores

Face Value

₹ 10

per equity share

Market Lot

9 shares

Opening Date

09 August 2021

Closing Date

11 August 2021

Price Band

₹1585 - ₹1618

per equity share

Issue Size

₹ 2998.51 crores

Face Value

₹ 10

per equity share

Market Lot

9 shares

Listing at NSE, BSE

CarTrade IPO Important Dates

IPO Open Date 09 August 2021
IPO Close Date 11 August 2021
Basis Of Allotment Date 17 August 2021
Initiation Of Refunds 18 August 2021
Credit Of Shares To
Demat ACcount
20 August 2021
IPO Listing Date 23 August 2021

CarTrade IPO Latest News and Subscription Status Today [Live]

Day 3 : 11 August 2021
Day 2 : 10 August 2021
Day 1 : 09 August 2021

At 05:10 p.m.

- This IPO has been subscribed 1.71x by 5:10 PM. on Day 3
- It is a public issue of 6,25,00,001 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 4.23x
- (NII) Non-institutional buyers: 0.66x
- (RII) Retail Individual buyers: 0.73x

 

At 04:10 p.m.

- This IPO has been subscribed 1.71x by 4:10 PM. on Day 3
- It is a public issue of 6,25,00,001 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 4.23x
- (NII) Non-institutional buyers: 0.66x
- (RII) Retail Individual buyers: 0.71x

 

At 03:10 p.m.

- This IPO has been subscribed 1.36x by 3:10 PM. on Day 3
- It is a public issue of 6,25,00,001 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 3.29x
- (NII) Non-institutional buyers: 0.36x
- (RII) Retail Individual buyers: 0.68x

 

At 02:05 p.m.

- This IPO has been subscribed 0.92x by 2:05 PM. on Day 3
- It is a public issue of 6,25,00,001 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.93x
- (NII) Non-institutional buyers: 0.20x
- (RII) Retail Individual buyers: 0.64x

 

At 12:55 p.m.

- This IPO has been subscribed 4.39x by 12:55 PM. on Day 3
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 2.37x
- (NII) Non-institutional buyers: 12.56x
- (RII) Retail Individual buyers: 2.04x

 

At 11:55 p.m.

- This IPO has been subscribed 1.34x by 11:55 AM. on Day 3
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.97x
- (NII) Non-institutional buyers: 0.57x
- (RII) Retail Individual buyers: 1.89x

 

At 10:50 a.m.

- This IPO has been subscribed 1.21x by 10:50 AM. on Day 3
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.94x
- (NII) Non-institutional buyers: 0.40x
- (RII) Retail Individual buyers: 1.71x

 

At 05:10 p.m.

- This IPO has been subscribed 0.99x by 5:10 PM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.59x
- (NII) Non-institutional buyers: 0.27x
- (RII) Retail Individual buyers: 1.53x

 

At 04:10 p.m.

- This IPO has been subscribed 0.86x by 4:10 PM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.51x
- (NII) Non-institutional buyers: 0.13x
- (RII) Retail Individual buyers: 1.36x

 

At 02:55 p.m.

- This IPO has been subscribed 0.68x by 2:55 PM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.13x
- (RII) Retail Individual buyers: 1.30x

 

At 01:55 p.m.

- This IPO has been subscribed 0.60x by 1:55 PM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.07x
- (RII) Retail Individual buyers: 1.16x

 

At 12:55 p.m.

- This IPO has been subscribed 0.57x by 12:55 PM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.07x
- (RII) Retail Individual buyers: 1.10x

 

At 12:15 p.m.

- This IPO has been subscribed 0.55x by 12:15 PM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.07x
- (RII) Retail Individual buyers: 1.07x

 

At 10:55 a.m.

- This IPO has been subscribed 0.50x by 10:55 AM. on Day 2
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.05x
- (RII) Retail Individual buyers: 0.98x

 

At 05:10 p.m.

- This IPO has been subscribed 0.41x by 5:10 PM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.03x
- (RII) Retail Individual buyers: 0.80x

 

At 04:10 p.m.

- This IPO has been subscribed 0.34x by 4:10 PM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.02x
- (RII) Retail Individual buyers: 0.67x

 

At 03:00 p.m.

- This IPO has been subscribed 0.31x by 3:00 PM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.60x

 

At 02:05 p.m.

- This IPO has been subscribed 0.26x by 2:05 PM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.52x

 

At 01:10 p.m.

- This IPO has been subscribed 0.23x by 1:10 PM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.45x

 

At 11:40 a.m.

- This IPO has been subscribed 0.15x by 11:40 AM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.29x

 

At 10:40 a.m.

- This IPO has been subscribed 0.06x by 10:40 AM. on Day 1
- It is a public issue of 1,29,72,552 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.13x

 

Why Should You Invest in CarTrade IPO?

CarTrade has an asset-less business model which enables it to use balance funds to finance acquisitions that boost top-line growth. Moreover, it is constantly taking measures to enhance its technology and reduce its costs by improving operational efficiency.

From a financial standpoint, things look quite favourable as well. The company has recorded a 45% increase (approx.) in its capital gearing ratio between FY2018 and FY2020. Moreover, this company’s revenue from operations for FY20 stood at Rs. 298.3 crore against Rs. 243.3 crore in the previous fiscal year, thus representing a 22.61% increase.

Considering the long term outlook in relation to India’s automotive market, investing in CartTrade IPO could be lucrative for investors. Thus, they might want to consider this company’s public issue once it is open for subscription.

Financial highlights

For the Period Ended Total Revenue (In Rs. million) Total Assets (In Rs. Million) Profit After Tax (In Rs. Million)
31 March 2021 2815.23 19301.99 1010.74
31 March 2020 3184.45 14,704.06 312.94
31 March 2019 2668.05 14,270.94 259.17

How to Apply for CarTrade IPO?

You can apply for the CarTrade IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book CarTrade IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for CarTrade IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel Broking to begin your investment journey.

CarTrade – Noteworthy Highlights

Here are some noteworthy highlights of CarTrade :

- This company has regional operations in India. It has a network of over 5,100 distributors spread across 90 cities in the country.

- Currently, more than 2,36,000 used vehicles are registered on CarTrade’s online platform.

- As of now, CarTrade has raised $307.4 million worth of funds over 8 rounds. Its last funding was on 12 April 2021.

- The principal shareholders of this company include Highdell Investments and MacRitchie Investments. Together, they hold Almost 70% shares of CarTrade.

- In 2015, CarTrade completed the acquisition of CarWale for $90 million in an all-cash deal. This takeover turned out to be a massive boost for CarTrade’s top line.

CarTrade IPO - SWOT Analysis

strengths

Strengths

  • Asset-Light Business Model: CarTrade works on an asset-light business model. It enables the company to reduce its capital expenditure and utilise the balance amount to fund more takeovers, for example, Adroit Inspection and CarWale.
  • Presence in Two-Wheeler Segment: This company has managed to scale its operations in the two-wheeler division through its BikeWale platform. BikeWale and CarWale are way ahead of their peers in relation to search popularity.
  • Technological Enhancements: CarTrade invests a significant amount of funds in upgrading its technology. This has enabled the company to improve its scale of operations while reducing fixed expenses at the same time. Resultantly, CarTrade’s margins have increased along with its revenue.
Weaknesses

Weaknesses

  • Low Marketing Budget: CarTrade has a low marketing budget in comparison to its peers and primarily relies on organic growth. However, it needs to increase its marketing budget to survive in the highly competitive space.
  • Debt Burden: This company has a substantial amount of outstanding borrowings, which it aims to pay off by utilising funds it raises via the upcoming IPO.
Opportunities

Opportunities

  • Rise in Demand: The increase in demand for cars among the middle class and young individuals could prove to be a massive boost for CarTrade.
  • Growing Automobile Market: The high inflow of foreign direct investments and favourable government policies, such as FAME and Production-Linked Incentive, could lead to the expansion of the automotive sector of India. This could subsequently turn out to be quite favourable for CarTrade.
Threats

Threats

  • Drop in Car Ownership: CarTrade needs to be cautious of a drop in the number of car owners or demand for a particular type of vehicle. For example, the popularity of older vehicles may diminish over the long term owing to the advent of electronic vehicles and connected cars.
  • Increased Usage of Public Transportation: Shared mobility could increase significantly coming out of the pandemic as more and more individuals move back to major cities. The financial crisis induced by the pandemic could stop them from purchasing cars in the future.
  • Fraudulent Actions: The fraudulent behaviour of individuals engaging on CarTrade’s online platform poses a threat to the company’s success.
  • Growing Competition: CarTrade faces tough competition from its peers, which include Cars24, Mahindra First, Droom, and more. The company has to ensure that its customer-acquisition strategy is top-notch to succeed in the highly competitive space.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Scaled Diagnostics Operation: Krsnaa Diagnostics operates in 14 states across the country with 465 pathology labs and over 2000 diagnostic centres, including collection and processing centres. Its operational base provides the company with strong financial leverage, helping it maintain a 30% operating margin as of 31 March 2020.
  • Healthy Financial Risk Profile: The management of Krsnaa Diagnostics strives to maintain a 1:1 equity-to-debt ratio, keeping its risk profile at a moderate level over the medium term.
  • Robust Infrastructure: It uses advanced technology and the best of the latest equipment in its diagnostics centres. Such modern and technologically advanced infrastructure offers it a competitive advantage in the market and helps retain and increase its customer base.

Weaknesses 

  • Working capital needs: The PPP segment accounts for a significant portion of its receivables, stretching the credit period between 115 and 139 days. Therefore, its working capital requirements are significantly high.

Opportunities 

  • Growth Prospects: The diverse geographical presence and strong financials offer Krsnaa Diagnostics the flexibility to expand its scale of operation and facility units.
  • Large Government Orders: Since the pandemic hit, GOI has decided to up its investment in the healthcare sector. This opens up opportunities for the company as it receives nearly 70% of its orders from government departments as of 31 March 2020.

Threats 

  • Increase in Operating Costs: The tenders Krsnaa Diagnostics receive usually feature a tenure of 7 – 10 years. The price goes up by 2 – 3% after every 3 – 5 years. Therefore, if there’s a sudden increase in its operating costs, the company may struggle.
  • Generic Products: Diagnostics centres across the country offer similar tests and methods of prognosis. This increases the competition for the company from both regional and established market players.

Competitor Analysis: Market Peers

The following table is a representation of the competition that CarTrade faces from its peers:

Company CarTrade Droom Technology CarDekho
About CarTrade is an online marketplace that provides a platform for individuals to buy and sell new and old cars. Moreover, it provides extensive information and reviews regarding automobiles. Droom provides an online platform that allows individuals to purchase and sell new and pre-owned two-wheelers and four-wheelers. This company is a car search venture. It helps individuals to purchase cars that are suitable for them.
Company type Private Private Private
Funding $307.4 million $133 million $247.5 million

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CarTrade IPO FAQs

What is CarTrade IPO?

CarTrade aims to raise Rs. 2998 crores via its initial public offering. The issue will comprise only an offer for sale of 18,532,216 shares by promoters.

When will the CarTrade IPO be open for subscription?

9 August 2021

What is the minimum lot size in relation to CarTrade IPO?

The minimum lot size of CarTrade shares is 9.

Who is the registrar of CarTrade IPO?

The registrar of CarTrade IPO is Link Intime India Private Limited.

When is the CarTrade IPO listing date?

The tentative listing date for CarTrade is 23 August 2021.

How will investors receive the allotted IPO shares?

CarTrade shares will be credited to investors’ Demat account once the allotment process is over.

Who are the merchant bankers for CarTrade IPO?

The company has appointed Kotak Mahindra Capital, Citigroup Capital Markets, Nomura, and Axis Capital as merchant bankers.

Which categories of investors are allowed to subscribe to CarTrade IPO?

Qualified institutional buyers, retail investors and non-institutional investors can subscribe to CarTrade IPO.

What will be the issue type of CarTrade IPO?

CarTrade IPO will be a book build type of issue.

What is the last date of subscription for CarTrade IPO

The closing date for CarTrade IPO is 11 August 2021.

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