New Delhi: Shares of CarTrade Tech made a muted start in the market on Friday, listing at a discount of over 1 per cent against the issue price of Rs 1,618.
The stock listed at Rs 1,600 on the BSE, down 1.11 per cent from the issue price. On increasing business, it fell by 8.77 per cent to Rs 1,476.
On NSE, it opened at Rs 1,599.80, down 1.12 per cent.
The company’s market valuation on the BSE was Rs 7,079.53 crore.
CarTrade Tech’s initial public offering (IPO) was subscribed 20.29 times earlier this month. The Rs 2,998.51 crore IPO was in the price range of Rs 1,585-1,618 per share.
Founded in 2009, CarTrade is backed by marquee investors – Warburg Pincus, Temasek, JP Morgan and March Capital.
The CarTrade platform allows customers to buy and sell used cars as well as new cars.
The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands – CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto and Autobiz.
live TV
#Mute
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slot.addService(googletag.pubads());
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outbrain_script.type="text/javascript";
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outbrain_script.src="https://widgets.outbrain.com/outbrain.js";
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handle.autopager('load');
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var title, imageUrl, description, author, shortName, identifier, timestamp, summary, newsID, nextnews;
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loadshare(prevLoc);
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url = $(next_selector).attr('href');
x=$(next_selector).attr('id');
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//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
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function disqusToggle() {
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$("#disqus_thread1" + id).toggle();
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//$(".main-rhs2386824").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function() {
var layout = $(content_selector);
var st = 0;
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})(jQuery);
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