Chennai, August 20, 2021: CarTrade Tech, a multi-channel auto platform via its several integrated brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and Auto Biz; listed on BSE at Rs. 1,600 a 1.11% discount to its issue price. The scrip got listed NSE at Rs. 1,599.80 per share, a 1.12% discount to its issue price of Rs. 1618. The shares of the company at day end closed at Rs. 1,500.10 per share on BSE and Rs. 1,491 per share on NSE.
As per BSE, the total quantity traded stood at 5,21,763 lacs shares with a delivery quantity percentage of 29.20%. Quantity traded and delivery percentage at NSE was approx. 11 crore shares and 51.56 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs. 1,81,544.84 lacs.
The Market Capitalization of the Company post today’s closing price stood at Rs. 6,875.57 crores as per BSE and Rs. 6,879 crores as per NSE.
The Offer was an offer for sale of up to 18,532,216 Equity Shares (“Offer for Sale”) by the Selling Shareholders, received bids of 26,31,74,823 shares against the offered 1,29,72,552 equity shares. The portion reserved for retail investors was subscribed 2.75 times. While the Qualified Institutional Buyer category was subscribed 35.45 times and the Non-Institutional Investor category was subscribed 41 times.
Key brokerage houses like Antique Stock Broking, Anand Rathi, Ashika Stock Broking Limited, Nirmal Bang and ICICI Direct, had given recommendations of “Subscribe” to the issue for long term perspective while highlighting the key strengths of the company like (a) differentiated and profitable business model (b) Strong brand suite serving an addressable market worth US$ 14.3 billion (c) Strong competitive positioning driven by superior customer experience, brand and powerful network effect and (d) looking to monetize value added services and untapped opportunities. CarTrade Tech is a multi-channel auto platform with a presence across varied vehicle types and value-added services. Its platforms operate under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. Through these platforms, CT enables new and used automobile customers, vehicle dealerships, vehicle OEMs and other businesses to buy and sell their vehicles. Furthermore, it is the only profitable company among other related Platforms with 32 million average monthly unique visitors.