Hyderabad, May 17 (UNI) Car Trade Tech Limited, a multi-channel auto platforms which operate under several brands – CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto and AutoBiz, has filed its papers for an Initial Public Offering (IPO) with the regulator to raise around Rs 2000 crores.
As stated in the Draft Red Herring Prospectus (DRHP), the Initial Public Offering an Offer of Sale of up to 1,23,54,811 equity shares by Investor Selling Shareholder, CMDB II, Highdell Investment Ltd, Macritchie Investments Pte. Ltd, Springfield Venture International, Bina Vinod Sanghi (Jointly Held With Vinay Vinod Sanghi), Daniel Edward Neary, Shree Krishna Trust, Steve Greenfield, Victor Anthony Perry Iii, Vinay Vinod Sanghi (Jointly Held With Seena Vinay Sanghi), By Vinti Rajesh Gajree (Jointly Held With Vinay Vinod Sanghi) And Viraj Vinod Sanghi (Jointly Held With Niki Viraj Sanghi).
Mumbai based Company is a multi-channel auto platform with coverage and presence across vehicle types and value-added services ..
The Company offers a variety of solutions across the automotive transaction value chain for marketing, buying, selling and financing of new and pre-owned cars, two-wheelers as well as pre-owned commercial vehicles and farm and construction equipment.
According to RedSeer Report, In the Fiscal 2021 company platforms, CarWale and BikeWale, ranked number one on relative online search popularity when compared to their key competitors, while Shriram Automall is a leading used vehicle auction platform based on the number of vehicles listed for auction for the financial year 2020. Car Trade Tech Limited was the only and most profitable automotive digital platform, amongst key competitors.
Car Trade Tech Limited Chairman, Managing Director and CEO, Vinay Vinod Sanghi said the organization focuses on building an environment of innovation, trust, respect, ownership, agility and teamwork.
Marquee institutional shareholders include affiliates of Warburg Pincus, Temasek, JP Morgan and March Capital.
Investment Bankers appointed to the issue are Axis Capital Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Nomura Financial Advisory and Securities (India) Private Limited.
