Online auto classifieds platform CarTrade Tech raised Rs 900 crore from anchor investors, ahead of its IPO, MoneyControl reported.
According to a circular on the BSE website, 55,59,664 Equity Shares were subscribed on August 6 at Rs.1618 per equity share. Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company were among the anchor investors.
The 2,998.51 crore IPO will be launched from August 9 till August 11. The price band was fixed at Rs 1,585-1,618 per equity share.
50% equity shares have been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. The bidder will be able to apply for a minimum of 9 lots and a maximum of 13 lots.
CarTrade Tech which was founded in 2009 is the parent company of CarWale, CarTrade, and AutoBiz. According to The Economic Times, sales of the company dropped 16% in FY21. CarTrade Tech had 2.6 crores, monthly average unique visitors, on its websites and apps in FY21.
According to MoneyControl, Mauritius-based Highdell Investment is the largest shareholder in CarTrade with a 34.44 per cent stake, followed by MacRitchie Investments with 26.48 per cent shareholding, CMDB II 11.93 per cent, Springfield Venture International 7.09 per cent, and Vinay Vinod Sanghi with a 3.56 per cent stake.