CarTrade to raise Rs 2,000 cr through IPO

05 May 2021 CW Team

Online auto portal CarTrade is set to raise Rs 2,000 crore through an initial public offering (IPO) as technology companies line up to float their IPOs.

After online food delivery platform Zomato's Rs 8,250 crore IPO, CarTrade is now set to file the draft red herring prospectus (DRHP). According to the sources, the filing is likely to take place in the next 10-15 days. After the filing, CarTrade will be the first online auto classifieds firm to go public in India, sources told the media.

According to the sources, investment banks such as Axis Capital, Kotak Mahindra Capital, Citi, and Nomura are advising CarTrade on the IPO.

CarTrade is backed by American private equity giant Warburg Pincus, Singapore's state investor Temasek, JP Morgan and March Capital Partners.

The platform allows customers to buy and sell used as well as new cars and discover and review offerings by auto companies. The company runs CarTrade.com, Carwale.com and Bikewale.com.

It also has services such as automobile inspection, valuation, certification and other related services through Adroit, and Shriram Automall India, a platform for pre-owned commercial vehicles, passenger vehicles, construction and industrial equipment, tractors and agricultural equipment, and two and three-wheelers.

CarTrade had picked up a 51% stake in Shriram Automall in January 2018 for around Rs 157 crore. In 2015, the company acquired rival CarWale in a move to consolidate the online auto classifieds sector.

Image Source

Also read: Will Secured Governance and Asset Monetisation to revive the economy?

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..