Car Trade Tech Ltd is a multi-channel auto platform provider company and is all set to make a debut in the stock market with an issue size of 2998.51 Cr.
CarTrade Tech Limited IPO –Overview
| CarTrade Tech Limited IPO Issue Date | 9-11 August 2021 |
| CarTrade Tech Limited IPO Opening Date | 9 August 2021 |
| CarTrade Tech Limited IPO Face Value | INR 10 per share |
| CarTrade Tech Limited IPO Price | INR 1618 per share |
| CarTrade Tech Limited IPO Lot Size | 9 Shares |
| Issue Size | 2,998.51 Cr |
| Offer for sale | 2,998.51 Cr |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 2.70 times |
| NII (HNI) Shares | 1.03 times |
| Company Promoters | CarTrade Tech is a professionally managed company with no identifiable promoters. |
CarTrade Tech Limited IPO-Tentative Dates
| CarTrade Tech Limited IPO opening date | 9 August 2021 |
| CarTrade Tech Limited IPO closing date | 11 August 2021 |
| Basis of Allotment | 17 August 2021 |
| Initiation of Refunds | 18 August 2021 |
| The credit of Shares to Demat | 20 August 2021 |
| CarTrade Tech Limited IPO Listing Date | 20 August 2021 |
CarTrade Tech – Industry Overview.
Internet and smartphone penetration in India has nearly doubled from 2015 to 2019 and is expected to increase further in the future. Since 2000, many Indians have skipped the traditional fixed-lines phones and embraced mobile phones. 90% of all phone connections were fixed line in 2000. Today, 90% of all phone connections are mobile. Internet adoption has picked up gradually, as data rates in India have declined. Before 2016, data rates in India were one of the lowest in the world at US$ 3.5 per GB, although this was not affordable enough for the masses. In 2016, with the launch of Reliance Jio, data prices became affordable at approximately US$0.09per GB, or the so-called “Jio effect”, and India’s internet adoption increased significantly from 317 million internet users in 2015 to approximately 690 million users in 2020. At the same time, there has been significant growth in the adoption of smartphones, driven by the availability of low-cost alternatives from local and global brands. The easy availability of smartphones, ease of consuming content on them, cheap data, and high-speed 4G connections have enabled Indians to embrace digital apps.
CarTrade Tech Limited IPO – Company Overview
CarWale and BikeWale, ranked number one on relative online search popularity when compared to their key competitors over the period from April 2020 to March 2021, while Shriram Automall is a leading used vehicle auction platform based on several vehicles listed for auction for the financial year 2020. Among the key competitors, the only and most profitable automotive digital platform. In recent years, also have significantly expanded the business, with the total income increasing at a CAGR of 45.94% between the financial years 2018 and 2020. For the nine months ended December 31, 2020, and the financial year 2020, total income was ₹ 1,896.05 million and ₹ 3,184.45 million, respectively, and restated profit for the period or year was ₹ 850.53 million and ₹ 312.94million, respectively. Adjusted EBITDA margin was 26.46% and 22.71% for the nine months ended December 31, 2020, and the financial year 2020.
CarTrade Tech Limited IPO-Objectives
- To carry out an offer for sale.
- To achieve the benefits of listing Equity Shares on the stock exchanges.
CarTrade Tech Limited IPO – Financial Statements
| Particulars | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
| Total Assets | 9,301.99 | 14,704.06 | 14,270.94 |
| Total Revenue | 2,815.23 | 3,184.45 | 2,668.05 |
| Profit After Tax | 1,010.74 | 312.94 | 259.17 |
CarTrade Tech Limited IPO Strengths
- A leading platform for Automotive Sales with a Synergistic Ecosystem.
- Operate various brands like CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, AutoBiz, etc.
- A comprehensive range of services like automotive buying, selling, financing, marketing, etc.
- Profitable and scalable business model.
CarTrade Tech Limited IPO Weakness
- Inability to keep pace with other technology or develop and introduce new and brand complementary products and services in a timely promptly.
Company Contact Information
CarTrade Tech Limited
12th Floor, Vishwaroop IT Park, Sector 30A
Vashi, Navi Mumbai 400 705, Maharashtra, India
Phone: +91 22 6739 8888
Email: investor@cartrade.com
Website: http://www.cartradetech.com/
CarTrade Tech IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: cartrade.ipo@linkintime.co.in
Website: https://linkintime.co.in/
CarTrade Tech IPO Lead Manager(s)
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- Kotak Mahindra Capital Company Limited
