CarTrade to raise Rs 2,000 cr through IPO
ECONOMY & POLICY

CarTrade to raise Rs 2,000 cr through IPO

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?

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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement