The Mumbai-based startup is looking to raise about INR 3,000 Cr via a combined sale and issue of 18.5 Mn equity shares
A retail investor would have to shell out at least INR 14,265 to get an allotment as the minimum lot size has been set at 9 shares
CarTrade raised INR 899.5 Cr from anchor investors last week, according to a statement on the exchanges
Auto marketplace platform CarTrade’s IPO has been oversubscribed 1.53 times by retail individual investors at the end of its second day of subscription on Tuesday (August 10). As qualified institutional buyers (QIBs) and non-institutional buyers (NIBs) have not subscribed to the full quota of their shares yet, the company’s shares have remained undersubscribed after two days of the IPO’s opening. The net subscription status currently stands at 99% of the total offering.
The Mumbai-based startup is looking to raise about INR 3,000 Cr via a combined sale and issue of 18.5 Mn equity shares in the company at a market capitalisation of up to INR 7,416 Cr — which will give it a unicorn valuation.