CarTrade Tech IPO Was Subscribed 20 Times On The Last Day Of Issuance.

CarTrade Tech stock is in high demand among non-institutional investors, and the reserved portion for them has been subscribed 32.48 times.

According to data from the National Stock Exchange, as of the last day of subscription, the number of subscriptions for CarTrade Tech shares sold at a price of 3,000 crore through an initial public offering (IPO) was 20.29 times. CarTrade Tech received a total of 26.31 crore offers for the purchase of 1.29 crore shares in this offering. A total of 1.35 million rupees was received at the cut-off price.

CarTrade Tech stock is in high demand among non-institutional investors, and the reserved portion for them has been subscribed 32.48 times. There are nearly 19 subscriptions reserved for qualified institutional buyers, among which overseas institutional investors subscribed for 4.33 million shares and domestic financial institutions (banks, financial institutions and insurance companies) subscribed for 18 million shares. NSE data shows that the part reserved for QIB contains 3.706 million shares.

Retail investors partially subscribed 1.41 times.

CarTrade Tech’s IPO was an offer to sell, and its main existing investors, including Warburg Pincus, Temasek and JPMorgan Chase, sold their shares in a three-day stock offering that ended on August 11. The company sells shares at 1,585-1,618 rupees per share.

Axis Capital, Citigroup Global Markets India, Nomura Financial Advisory and Securities (India) and Kotak Mahindra Bank are the main managers of the CarTrade public offering, while Link Intime India is the issuer’s registrar.

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