• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, July 15, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

CarTrade Tech mediocre debut on the stock exchanges, lists shares at 1% discount

by Balraj
August 23, 2021
in Business, India News, Markets
Reading Time: 2 mins read
0
Image representing a pen, glasses and papers representing CarTrade Logo on Laptop

Background: Anna Nekrashevich via Pexels × CarTrade Logo

TwitterWhatsappLinkedin

CarTrade Tech witnessed a mediocre debut on the stock exchanges this Friday. The stocks were listed for Rs 1600 per share, a 1 percent decrease to its initial public offering price of Rs 1618 per share. The stock plunged further during the session, closing at Rs 1500, an almost 7 percent fall to the issue price.

You might also like

Nintendo Switch Piracy Hub Nsw2u Taken Down in FBI Crackdown

France Investigates X Over Algorithm Changes Amid Fears of Foreign Interference

Tesla Slashes Model Y Price by $20,000 in Canada as Tariffs and Sales Woes Mount

Image representing a pen, glasses and papers representing CarTrade Logo on Laptop
Background: Anna Nekrashevich via Pexels × CarTrade Logo

The initial public offering (IPO) of CarTrade Tech was oversubscribed 20.29 times. The initial public offering (IPO) of CarTrade Tech was subscribed over 20.29 times. The qualified institutional investor (QIBs) part was subscribed over 35 times, the wealthy investor portion was subscribed by 41 times, and the retail investor (RIIs) quota was oversubscribed at 2.75 times.

Investors responded positively to the initial public offering. Bids for 263.1 million shares were received in the three-day initial public offering (IPO), compared to 12.9 million shares on offer. Through its IPO, the firm had raised around Rs 2999 crore in total. It was a total offer for sale (OFS) by selling stockholders such as JP Morgan’s CMDB II, Highdell Investments, Macritchie Investments, and Springfield Venture International.

The company now has a market valuation of Rs 6,875 crore following its IPO. Following the stock post listing, Goldman Sachs Trust, Jupiter India Fund, and Plutus Wealth Management bought stocks totaling Rs 275 crore.

CarTrade Tech reported revenue of Rs 281.52 crore during the fiscal year 2021, down from Rs. 318.44 crore from the previous year. The profit altogether for the period was around Rs 101.07 crore, up from Rs 31.29 crore the previous year. The company has significant earnings before interest, tax, depreciation, and amortization (EBITDA) margins of 25% in fiscal 2021, with overall margins averaging 10 percent during the last three fiscal years.

Its consumer marketplaces, CarWale, CarTrade, and BikeWale, on average handle 27.11 million unique visitors during the June 2021 quarter, with 88.14 percent of those are organic visitors. In January 2018, CarTrade bought 51 percent ownership in Shriram Automall for Rs 157 crore. It also acquired its direct competitor CarWale in 2015 in an attempt to consolidate the online auto classifieds sector.

CarTrade is a multichannel auto marketplace founded in 2009 by Vinay Sanghi, and Rajan Mehra. It offers both new and used vehicles to customers through its groups of platforms including CarTrade, Carwale, CarTradeExchange, Shriram Automall, Adroit Auto, Auto Biz, as well as BikeWale. CarTrade Tech is incorporated with over 40 OEMs, 15,000+ dealers, and 180 independent or franchised outlets. CarTrade is India’s only profitable online automotive marketplace as of now.

Tags: Bombay Stock ExchangeCARTRADECarTrade TechCarwaleEBITDAHighdell InvestmentsIPOMacritchie InvestmentsRajan MehraStock marketVinay Sanghi
Tweet54SendShare15
Previous Post

millennium from Ohio gives up over $200m BTC after helping in laundering

Next Post

Pilot’s iPhone X survived 11,500 foot drop and came out without any scratch

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Nintendo Switch Piracy Hub Nsw2u Taken Down in FBI Crackdown

by Harikrishnan A
July 15, 2025
0
Nintendo Switch Piracy Hub Nsw2u Taken Down in FBI Crackdown

A well-known website catering to Nintendo Switch piracy, Nsw2u, has been permanently taken offline following an investigation led by the FBI. The site, widely used for downloading illegal...

Read more

France Investigates X Over Algorithm Changes Amid Fears of Foreign Interference

by Harikrishnan A
July 15, 2025
0
European Union Commences Investigation into Social Media Firm X for Alleged DSA Violations

French authorities have opened a formal investigation into the social media platform X—formerly known as Twitter—amid allegations that its algorithm may have been manipulated to support foreign interference...

Read more

Tesla Slashes Model Y Price by $20,000 in Canada as Tariffs and Sales Woes Mount

by Harikrishnan A
July 15, 2025
0
Tesla Owner Burns Down Car and House After Plugging Directly Into Power Line

Tesla is in crisis management mode in Canada, cutting the price of its Model Y SUV by a staggering CAD $20,000 in an urgent attempt to recover from...

Read more
Next Post
Pilot’s iPhone X survived 11,500 foot drop and came out without any scratch

Pilot’s iPhone X survived 11,500 foot drop and came out without any scratch

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?