InvestorQ : Can you tell me more detail about the forthcoming CarTrade IPO?
Deepa Salunkhe made post

Can you tell me more detail about the forthcoming CarTrade IPO?

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Arya Nanda answered.
3 weeks ago
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CarTrade has filed draft red herring prospectus or DRHP with SEBI to raise Rs.2,000 crore via the IPO route. However, this IPO will have no new issue component and will be a total offer for sale. The OFS will entail sale of 123.50 lakh shares by existing investors, including Highdell, MacRitchie and Springfield; apart from the promoter Vinay Sanghi.

The IPO will have a very small retail allocation. It will reserve 75% of the offering for QIBs, 15% for non-institutional HNIs and only 10% for retail bidders, so oversubscription numbers on the retail front could be misleading. CarTrade was promoted by Vinay Sanghi, the former CEO of Mahindra First Choice an agnostic auto company.

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