CarTrade files DRHP for Rs. 2,000 crore IPO.
Weeks after theorizing, CarTrade has finally filed a DRHP for an IPO with the capital market regulator, SEBI, to raise an amount of Rs.2,000 crore.
Investment banks such as Citi, Nomura, Axis Capital and Kotak Mahindra Capital are the company’s advisors on the IPO. The online auto classifieds platform’s offer has 26.96% of post-offer paid-up equity share capital and a face value of Rs 10 per share.
Vinay Sanghi founded the company in 2010, CarTrade functions on an online auto classifieds platform that enables the customers to buy new or old cars. Customers are also benefited from the facility to sell their used cars on the platform. It is reported to have sold over 1 million cars in 2020.
Source: zee news
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