IPO bells: CarTrade plans to go public, raise Rs 2000 crore: Report

5 days ago 2
CarTrade

CarTrade is reportedly readying to record the draught reddish herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) wrong the adjacent 10-15 days to spell public. The institution is gearing up for an archetypal nationalist offering (IPO) successful the coming weeks, according to a study by Mint.

CarTrade is reportedly readying to record the draught reddish herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) wrong the adjacent 10-15 days to spell public. The institution is gearing up for an archetypal nationalist offering (IPO) successful the coming weeks, according to a study by Mint.
 
The car classifieds institution is reportedly looking to container astir Rs 2000 crore with its IPO. The institution is being advised by concern banks specified arsenic Citi, Nomura, Axis Capital and Kotak Mahindra Capital connected the IPO.

CarTrade was founded successful 2010 by Vinay Sanghi. The institution runs an online car classifieds level that helps customers bargain caller oregon aged cars. Customers tin besides merchantability their utilized cars connected the platform. It is said to person sold implicit 1 cardinal cars connected its level successful 2020. 

The institution is backed by investors American backstage equity elephantine Warburg Pincus, Singapore’s authorities capitalist Temasek, JP Morgan and March Capital Partners. Besides CarTrade, the institution besides runs Carwale.com and Bikewale.com for trading two-wheelers. 

It besides runs Adroit, which provides further services related to automobiles, including automobile inspection, valuation, certification, among others. 

In January 2018, CarTrade besides acquired Shriram Automall India Ltd, which deals successful pre-owned commercialized vehicles, including operation and concern instrumentality and tractors and cultivation equipment.

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