CarTrade Tech IPO
CarTrade Tech Limited (CARTRADE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 20 August 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +11.9% (likely range -4% to +16%), day's high +22.4%, chance of a gain 92%. Actual: -1.1% at the open, 0.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 37,06,443 | 13,13,88,732 | 35.4x | |
| NII (HNI) total | 27,79,833 | 11,39,70,366 | 41.0x | |
| Retail | 64,86,276 | 1,78,15,725 | 2.75x | |
| Total | 1,29,72,552 | 26,31,74,823 | 20.3x |
Bids on NSE and BSE together, as published by NSE, as of 11 Aug 2021, 05:00 PM. Shares offered exclude the anchor portion. 5% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to CarTrade Tech's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| Bandhan BankMar 2018 | 38.7x | 13.9x | 1.20x | 14.6x | ₹4,473 Cr | +33.1% | +33.1% |
| ZomatoJul 2021 | 51.8x | 33.0x | 7.45x | 38.3x | ₹9,899 Cr | +52.6% | +82.8% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| Endurance TechnologiesOct 2016 | 53.4x | 127x | 2.69x | 43.8x | ₹1,162 Cr | +21.2% | +38.6% |
| Ujjivan Financial ServicesMay 2016 | 33.8x | 135x | 4.02x | 40.7x | ₹892 Cr | +10.4% | +16.5% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the CarTrade Tech IPO price band and lot size? ₹1,585–1,618 per share, with a lot of 9 shares, so the smallest retail bid is ₹14,562.
How many times has it been subscribed? 20.3x overall: QIB 35.4x, NII 41.0x, retail 2.75x.
How did it list? It opened at ₹1,600, -1.1% against the issue price of ₹1,618, and closed its first day -7.2%.
