CarTrade | Business Upturn

CarTrade Tech launches ‘CarTrade Labs’ to drive tech innovation

Aman Shukla — Tue, 24 Jun 2025 15:43:14 +0000

CarTrade Tech Limited has introduced CarTrade Labs, a dedicated technology and innovation unit aimed at developing next-generation solutions using generative AI, data science, and rapid prototyping.

The lab will support product development across CarTrade Tech’s platforms, including CarWale, BikeWale, OLX India, and Shriram Automall. Focus areas include AI-based dealer management systems, pricing tools, customer support automation, and digital retail experiences tailored to automotive buyers and sellers.

CarTrade Labs is structured as an independent unit within the company and will consist of a multidisciplinary team of product professionals, engineers, and data scientists. The lab will work in close coordination with CarTrade Tech’s business units to ensure real-world relevance and measurable outcomes.

In addition to internal projects, the lab will seek partnerships with startups, academic bodies, and global tech providers to explore practical applications of emerging technologies.

Varun Sanghi, President, CarTrade Tech, stated, “With CarTrade Labs, we’re laying the foundation for the next decade of innovation in mobility and commerce. It’s a platform to reimagine, build, and scale world-class technology that creates real impact for consumers, dealers, and the ecosystem. It will give us the edge to continuously reinvent ourselves, build transformative products, and stay at the forefront of the industry.”

This move reflects CarTrade Tech’s broader strategy to invest in scalable tech capabilities to support its digital automotive commerce ecosystem.

Stock market today: EaseMyTrip, HDFC Life, PC Jewellers, MCX, Delta Corp, CarTrade, Hariom Pipes in focus | 25 Sept, 2024

News Desk — Wed, 25 Sep 2024 03:05:21 +0000

In a flurry of corporate activity, several Indian companies have announced significant developments spanning various sectors. From financial moves and production milestones to regulatory approvals and strategic restructuring, these updates reflect the dynamic nature of India’s business landscape. Notable announcements include HDFC Life’s consideration of a substantial debt raise, Mazagon Dock’s production commencement for a key project, and Delta Corp’s approval for a major business demerger.

HDFC Life: Board meet on Sept 27 to consider terms for ₹2,000 cr subordinated debt raise
Mazagon Dock: Commenced production activity for first MPV for Navi Merchants, Denmark
Delta Corp: Board approves demerger of hospitality and real estate business
PC Jewellers: To consider sub-division/stock split on September 30
MCX: Revises transaction fees for futures & options contracts w.e.f. Oct 1
Solar Industries: Gets NCLT nod for scheme of amalgamation of Rajasthan Explosives with arm
Sarda Energy: Gets environmental nod to expand production capacity of Gare Palma block
Hariom Pipes: Board approves ₹700 cr fund raise plan via multiple modes including QIP
CarTrade: Warburg Pincus unit sells entire 8.6% stake via blocks, Mirae Asset MF among buyers
Tata Elxsi: Delivers world’s first RDK-B integration on Qualcomm 5G fixed wireless platform
Mahindra Holidays: Assumes complete management of Club Mahindra Golden Landmark Resort in Mysuru
Exxaro Tiles: BofA buys 6.7 lakh shares worth ₹6.4 cr via block deal through European subsidiary
NBCC: State-owned NBCC seeks Supreme Court permission to develop Supertech’s 17 stalled projects
Tata Power: Fire in control room of Trombay plant, no casualties, adequate insurance in place
Shilpa Medicare: Promoters pledge 34.25 lakh shares (3.49% equity)
KEC International: Sources say company launches QIP to raise up to ₹870 cr, indicative price ₹955/sh
EaseMyTrip: Sources say promoters to sell up to 8.5% stake via block deals, indicative price ₹41.5/sh
Gillette India: Bangladesh distributor terminates agreement effective Dec 31, 2024

These diverse corporate actions underscore the ongoing evolution and growth initiatives across multiple industries in India. From infrastructure and manufacturing to technology and consumer goods, companies are making strategic moves to strengthen their market positions, expand operations, and unlock value for shareholders. As these developments unfold, they are likely to shape the trajectory of the respective companies and potentially influence broader market trends in the coming months.

CarTrade IPO: Issue subscribed 5.11 times on final day; QIB booked 3.37 times

Sneha Sengupta — Wed, 11 Aug 2021 08:52:50 +0000

The CarTrade Tech (a multi-channel auto platform provider) IPO was subscribed at 5.11 times on the final bidding day on August 11. The company gathered bids for an enormous 6.62 crore equity shares against an IPO size of 1.29 crore equity shares. The portion reserved for the qualified institutional buyers received 3.37 times subscription, and the portion for the non-institutional investors was subscribed at 14.49 times.

Retail investors continued to provide good support to the offer as their portion was subscribed 2.08 times.

The company that channelizes the functioning of eminent brands like CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz, aims to make Rs 2,998.51 crore through its initial public offering. This proposed an absolute package for marquee investors like CMDB II, Highdell Investment, Macritchie Investments, and Springfield Venture International. Among others, Bina Vinod Sanghi (Jointly Held with Vinay Vinod Sanghi), Daniel Edward Neary, Shree Krishna Trust, Victor Anthony Perry III, and Vinay Vinod Sanghi (jointly held with Seena Vinay Sanghi) to sell shares through IPO.

Further, “CarTrade actively invests in improving their technology such as their AI and machine learning capabilities to provide more relevant and timely information to their customers and enhance user experience. In addition to the above, they have provided a dealer management system (DMS) to BMW India to support all BMW dealers in India run their used car businesses in an efficient and digitally-optimized manner,” added BP Equities who have showered a subscribed rating upon the company on a long-term basis.

The brokerage also stated that “its comprehensive range of services i.e. automotive buying, selling, financing, marketing, etc and profitable and scalable business model provide for further growth visibility.

About the valuation grounds, at the upper price band of Rs 1,618, CarTrade is valued at 73.3x P/E in reaction to the diluted equity shares and the current fiscal year’s annualized earnings.

In the grey market, CarTrade Tech shares traded at a premium of Rs 150, which dipped severely from Rs 320 a day before, as per the IPO Watch data. This gave rise to a trading price of Rs 1,768, which rose the issue price of 9.3 per cent against the issue price of Rs 1,618.

Nuvoco Vistas & CarTrade IPOs and GMP released, Read details here

Sneha Sengupta — Mon, 09 Aug 2021 05:24:04 +0000

Nirma Group subordinate, Nuvoco Vistas and e-auto classified platform CarTrade initial public offerings (IPOs) will be available for subscription today. These companies are generating funds to pass out their debt, funding capital expenditure requirements and for general corporate uses.

CarTrade IPO price band is uniform at ₹1,585-1,618 per share and Nuvoco Vistas is priced at ₹560-570 a share. The following three-day issues will end on August 11. CarTrade shares are open at a premium rate of ₹380 in the grey market while Nuvoco Vistas’ is available at ₹20, as per the market observation report. The share-sale initially will be completely an offer for sale (OFS) of 18,532,216 equity shares.

”CTT (CarTrade Tech) offers a unique play on the rising digitisation of new and pre-owned vehicle transaction value chain/ecosystem. Given the prevailing preference for digital platforms including the recent listings, we assign SUBSCRIBE rating to the issue for listing gains. Long term wealth generation at CTT will be a function of scalability, relevance and journey towards healthier return ratios,” added ICICI Direct in a statement.

“We believe the company has a strong brand, better technology platforms, a profitable & scalable business model. Hence, we recommend a subscribe rating on the issue,” said Amarjeet Maurya, AVP-Mid Caps, Angel Broking.

Initially, Nuvoco Vistas will issue shares at ₹1,500 crore along with an offer for the sale of ₹3,500 crore by the promoter Niyogi Enterprise. The fixed price band of ₹560-570 public issue will be offered for subscription from August 9 to August 11.

Moreover, along with the mentioned companies, two more IPOs Aptus Value Housing Finance and Chemplast Sanmar will commence their public subscription week along with four other companies at ₹14,628 crore on an initial basis. This announcement comes just after the four companies: Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles, released their initial share-sales of ₹3,614 crore, last week.