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CarTrade and Nuvoco Vistas: Latest Updates on IPO

Investors responded well to the two initial public offerings (IPOs) of CarTrade Tech and Nuvoco Vistas Corporation, both of which were announced earlier this week.

CarTrade

(Source: Entrackr)

CarTrade IPO

The CarTrade Tech IPO received 20.29 times subscription on the last day, while the Nuvoco Vistas IPO received 1.71 times subscription towards the end, according to NSE data.

According to NSE statistics, the CarTrade Tech IPO got bids for over 26.31 crores (26,31,74,823) shares out of a total issue size of over 1.29 crore (1,29,72,552) shares.

CarTrade.com is an online car classifieds website in India that allows customers to purchase and sell new and old autos. Mumbai, Maharashtra, is the company’s headquarters. Vinay Sanghi and Rajan Mehra launched CarTrade.com in 2010. CarTrade.com paid full cash for CarWale, an online listings platform, in November 2015. CarTrade.com paid full cash for Adroit Inspection, a car inspection, and assessment company, in May 2017.

Shriram Group sold CarTrade a 51 percent share in Shriram Automall in January 2018. CarTrade India became India’s largest online and physical vehicle marketplace as a result of this purchase. CarTrade Tech Limited filed a Draft Red Herring Prospectus (DRHP) for its proposed initial public offering with the Securities and Exchange Board of India in May 2021. (IPO)

The shares designated for qualified institutional buyers (QIBs) were subscribed 35.45 times, while non-institutional investors were subscribed 41.00 times, and retail individual investors (RIIs) were subscribed 2.75 times, according to the data.

The online car classifieds platform’s Rs 2,999 crore initial public offering (IPO) began on Monday, August 9, 2021, and ended on Wednesday, August 11, 2021, at 5 p.m. CarTrade Tech collected over Rs 900 crore (Rs 8,99,55,36,352) from 43 anchor investors in lieu of 55,59,664 equity shares at Rs 1,618 apiece before going public with a price band of Rs 1,585-1,618 per share.

Nuvoco Vistas IPO

According to stock market statistics, the IPO of cement producer Nuvoco Vistas Corporation got bids for nearly 10.70 crores (10,70,27,492) shares against a total issue size of 6.25 crore (6,25,00,001) shares.

The shares allotted to QIBs were subscribed 4.23 times, while non-institutional investors were subscribed 0.66 times and RIIs was subscribed 0.73 times, according to the statistics.

The Rs 5,000 crore Nuvoco Vistas initial public offering (IPO) began on Monday, August 9, 2021, and ended on Wednesday. The cement manufacturing business received over Rs 1,500 crore (Rs 14,99,99,99,160) from 66 anchor investors in exchange for 2,63,15,788 equity shares at Rs 570 apiece before launching its first public offering.

Investors will now be anticipating the share allotment dates for both offerings. According to the information presented in both businesses’ red herring prospectuses, the finalization of the basis of allocation for Nuvoco Vistas Corporation and CarTrade Tech is anticipated to take place on Tuesday, August 17, 2021.

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