CarTrade Tech IPO
CarTrade Tech IPO — date, price band, lot size & details 2021
CarTrade Tech listed on 20 Aug 2021 at ₹1,599.8, 1.1% below the ₹1,618 issue price.
CarTrade Tech runs a multi-channel auto platform with brands such as CarWale, CarTrade, Shriram Automall and BikeWale. Its total income was Rs 281.52 crore in FY2021.
Stock price
CarTrade Tech is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 09 Aug 2021
- Close 11 Aug 2021
- Allotment 17 Aug 2021
- Refund/credit 18 Aug 2021
- Listing 20 Aug 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Aug, 2021 |
|---|---|
| Price Band | ₹1585 – ₹1618 |
| Face Value | ₹10 |
| Lot Size | 9 Shares |
| Issue Size | ₹2998.51 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,562 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 9 shares at the ₹1618 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 9 | ₹14,562 |
| Retail (max) | 13 | 117 | ₹1,89,306 |
| S-HNI (min) | 14 | 126 | ₹2,03,868 |
| S-HNI (max) | 68 | 612 | ₹9,90,216 |
| B-HNI (min) | 69 | 621 | ₹10,04,778 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 25.92 crore in FY2019 to Rs 101.07 crore in FY2021.
- 02The company had no borrowing in any of the years shown, up to 31 March 2021.
- 03Net worth was Rs 1,680.58 crore on 31 March 2021.
- 04EBITDA rose from Rs 53.03 crore in FY2019 to Rs 71.20 crore in FY2021.
- 05Its 7 brands cover new cars, used cars, two-wheelers and vehicle auctions.
Risks · 5
- 01The whole Rs 2,998.51 crore issue was offer for sale, so no money went to the company.
- 02The P/E was 73.38 at the upper band of Rs 1,618, based on EPS of Rs 22.05.
- 03Total income fell from Rs 318.45 crore in FY2020 to Rs 281.52 crore in FY2021.
- 04Profit after tax of Rs 101.07 crore in FY2021 was higher than EBITDA of Rs 71.20 crore, so it relied on other items such as tax effects.
- 05The company has no identifiable promoter, and its online auto market is crowded with rivals, as its 7 separate brands show.
Three years of numbers
All figures in ₹ crore, as reported in the CarTrade Tech offer document.
| Metric | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|
| Assets | 1,930.20 | 1,470.41 | 1,427.09 |
| Total Income | 281.52 | 318.45 | 266.81 |
| Profit After Tax | 101.07 | 31.29 | 25.92 |
| EBITDA | 71.20 | 59.79 | 53.03 |
| NET Worth | 1,680.58 | 1,262.23 | 1,231.45 |
| Reserves and Surplus | 1,720.04 | 1,293.71 | 1,248.77 |
| Total Borrowing | 0.00 | 0.00 | 0.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the CarTrade Tech RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
CarTrade Tech IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹22.05 | ₹22.05 |
| P/E Ratio (x) | 73.38 | 73.38 |
| Market Cap at Offer Price (₹ Cr) | ₹7,416.38 | ₹7,416.38 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1618 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the CarTrade Tech IPO will be updated shortly.
About the company
Its brands are CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto and AutoBiz. Together they cover buying, selling, marketing and financing of vehicles, including vehicle auctions.
The company has no identifiable promoter and is owned largely by investors.
The IPO was Rs 2,998.51 crore and was entirely an offer for sale by existing shareholders, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
CarTrade Tech IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
Citigroup Global Markets India Pvt. Ltd
29 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Kalyan Jewellers India (-15.0%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
24 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of CarTrade Tech?
The current Grey Market Premium is ₹0.
What is the CarTrade Tech IPO price band?
₹1585 to ₹1618, on a face value of ₹10.
When is the allotment?
The basis of allotment is 17 August 2021, with listing on 20 August 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
