CarTrade set to raise INR 2,000Cr in IPO

cartrade ipo

Tech companies are looking to launch their IPO following food delivery giant Zomato’s INR 8,250 crore public offer. One of the latest auto firms to undertake this platform includes CarTrade, which is now planning to file a draft prospectus, making it the first online auto classifieds company to go for public listing in the country.

Originally backed by American private equity giant Warburg Pincus, Singapore’s state investor Temasek, March Capital Partners, and JPMorgan, CarTrade is planning to raise INR 2,000 Crore with this IPO.

CarTrade enables its customers to buy and sell used and new cars, while they also find review offerings by major auto companies. The company has several segments, namely Carwale.com, CarTrade.com, and Bikewale.com that offer services like valuation, vehicle inspection, certification, and other related automobile services via Shriram Automall India Ltd, and Adroit, a platform for pre-used passenger vehicles, commercial vehicles, industrial and construction equipment, agriculture equipment, and two and three-wheelers.

cartrade ipo

In January 2018, CarTrade had acquired a 51% stake for about ₹157 crores in Shriram Automall. Earlier in 2015, it had also acquired CarWale, its biggest rival, a move that helped it strengthen its position in the online auto-tech industry.

CarTrade is the first Indian online auto classifieds company looking to go for an IPO. It would have huge opportunities to grow its business if the IPO is successful.

Shishir Gupta, Founder and CEO, StartupLanes

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