CarTrade was based by Vinay Sanghi and Rajan Mehra within the yr 2009
CarTrade has filed draft crimson herring prospectus with market regulator SEBI to boost round Rs 2,000 crore by way of an preliminary public supply (IPO). The IPO shall be an offer-for-sale (OFS) of 12,354,811 fairness shares by present traders, together with Highdell Investment, Macritchie Investments, Springfield Venture International and Bina Vinod Sanghi. The firm won’t obtain any proceeds from the share sale as that is a proposal on the market and never a recent subject of shares.
CarTrade has reserved 75 per cent of the market providing for certified institutional patrons, 15 per cent for non-institutional traders and 10 per cent for retail bidders.
Axis Capital, Citigroup Global Markets India, Nomura Financial Advisory and Securities (India) and Kotak Mahindra Bank are the lead managers, whereas Link Intime India is the registrar to the problem.
CarTrade was based by Vinay Sanghi, former CEO of Mahindra First Choice, and Rajan Mehra, former nation head of eBay India within the yr 2009. It is a web based auto market platform that permits patrons and sellers to transact in new and used autos. CarTrade is backed by marquee traders equivalent to Temasek, Warburg Pincus and JP Morgan.
