CarTrade to raise Rs 2,000 cr through IPO
ECONOMY & POLICY

CarTrade to raise Rs 2,000 cr through IPO

Online auto portal CarTrade is set to raise Rs 2,000 crore through an initial public offering (IPO) as technology companies line up to float their IPOs.

After online food delivery platform Zomato's Rs 8,250 crore IPO, CarTrade is now set to file the draft red herring prospectus (DRHP). According to the sources, the filing is likely to take place in the next 10-15 days. After the filing, CarTrade will be the first online auto classifieds firm to go public in India, sources told the media.

According to the sources, investment banks such as Axis Capital, Kotak Mahindra Capital, Citi, and Nomura are advising CarTrade on the IPO.

CarTrade is backed by American private equity giant Warburg Pincus, Singapore's state investor Temasek, JP Morgan and March Capital Partners.

The platform allows customers to buy and sell used as well as new cars and discover and review offerings by auto companies. The company runs CarTrade.com, Carwale.com and Bikewale.com.

It also has services such as automobile inspection, valuation, certification and other related services through Adroit, and Shriram Automall India, a platform for pre-owned commercial vehicles, passenger vehicles, construction and industrial equipment, tractors and agricultural equipment, and two and three-wheelers.

CarTrade had picked up a 51% stake in Shriram Automall in January 2018 for around Rs 157 crore. In 2015, the company acquired rival CarWale in a move to consolidate the online auto classifieds sector.

Image Source


Also read: Will Secured Governance and Asset Monetisation to revive the economy?

Online auto portal CarTrade is set to raise Rs 2,000 crore through an initial public offering (IPO) as technology companies line up to float their IPOs. After online food delivery platform Zomato's Rs 8,250 crore IPO, CarTrade is now set to file the draft red herring prospectus (DRHP). According to the sources, the filing is likely to take place in the next 10-15 days. After the filing, CarTrade will be the first online auto classifieds firm to go public in India, sources told the media. According to the sources, investment banks such as Axis Capital, Kotak Mahindra Capital, Citi, and Nomura are advising CarTrade on the IPO. CarTrade is backed by American private equity giant Warburg Pincus, Singapore's state investor Temasek, JP Morgan and March Capital Partners. The platform allows customers to buy and sell used as well as new cars and discover and review offerings by auto companies. The company runs CarTrade.com, Carwale.com and Bikewale.com. It also has services such as automobile inspection, valuation, certification and other related services through Adroit, and Shriram Automall India, a platform for pre-owned commercial vehicles, passenger vehicles, construction and industrial equipment, tractors and agricultural equipment, and two and three-wheelers. CarTrade had picked up a 51% stake in Shriram Automall in January 2018 for around Rs 157 crore. In 2015, the company acquired rival CarWale in a move to consolidate the online auto classifieds sector. Image SourceAlso read: Will Secured Governance and Asset Monetisation to revive the economy?

Next Story
Real Estate

Pune Records 11% Drop in Property Registrations in Nov

Property registrations in Pune saw a decline of 11 percent year-on-year in November, totaling 13,371 units, despite robust demand, according to a report by Knight Frank India. The real estate consultancy revealed that the total registrations in November 2024 generated a revenue of Rs 475 crore for the state. This marked a fall from last year's figure of 14,988 units in the same month. Compared to October 2024, when 20,894 units were registered, November’s figures represent a 36 percent decrease. Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated that Pune’s proper..

Next Story
Infrastructure Energy

Oriana Power Signs MoU with Rajasthan in Clean Energy

Oriana Power, a publicly-listed company on the NSE, announced on Monday that it has entered into a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 10,000 crore in a series of clean energy projects. The projects will focus on solar energy, floating solar, green hydrogen, and energy storage solutions. The agreement was finalized in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana Power has identified six key locations in the state for these projects, including one in Bikaner, two in Churu, and three in Phalodi districts. Rupal Gupta, M..

Next Story
Infrastructure Energy

PM Surya Ghar Scheme Set to Surpass 10 Years of Solar Growth

The PM Surya Ghar Muft Bijli Yojana has achieved a remarkable milestone, surpassing 6.85 lakh solar installations within a year and poised to exceed a decade's worth of solar growth. The scheme, launched in February 2024, has already achieved 86 percent of the solar installations made in the last ten years. The 3-5 kW segment accounted for the majority of installations, at 77 percent, while 14 percent of installations were in the 5kW+ category. Gujarat led the charge with 2,86,545 installations, followed by Maharashtra with 1,26,344, Uttar Pradesh with 53,423, and Kerala. The scheme, which now..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000