CarTrade set to file IPO papers, to raise up to ₹2,000 crore

A host of technology companies are lining up to float their initial public offerings. After Zomato’s ₹8,250- crore public offer, auto classifieds platform CarTrade is now set to file its draft prospectus, said two people, requesting anonymity.

“They are ready to file the DRHP. Final touches are being put on the document. It should happen in the next 10-15 days. This will be the first online auto classifieds company to go public in India,” said one of the two people cited above. CarTrade will is looking to raise ₹2,000 crore, he added.

“It will be a mix of primary and secondary share sale. Investment banks Citi, Nomura, Axis Capital and Kotak Mahindra Capital are advising CarTrade on the IPO,” he said.