CarTrade Tech IPO: Here’s why brokerages suggest subscribing to the issue

Multi-channel auto platform CarTrade Tech’s initial public offer (IPO) launched on Monday, August 9, in a bid to carry out an offer for sale, and to achieve the benefits of listing equity shares on the stock exchanges.

At the upper end of the price band of Rs 1,585-1,618 apiece, the company aims to raise Rs 2,998.51 crore. The offer, which closes on Wednesday, August 11, is entirely an OFS of 18,532,216 equity shares where CMDB II (22.64 lakh equity shares), Highdell Investment Ltd (84.09 lakh shares), Macritchie Investments Pte Ltd (50.76 lakh shares), and Springfield Venture International (17.65 lakh shares) will offload their stake partially.