CarTrade Tech IPO Listing

Car trade
IPO
20/08/2021

The early warning signals for CarTrade Tech IPO were visible when the GMP contracted by 80% over few days. The stock eventually listed below the issue price. On 20 August, CarTrade Tech listed at a discount of -1.12%, but the stock just keep slipping through the day. The subscription of 20.29X in the IPO was robust, especially when you consider that HNI portion was subscribed 41X and QIB portion 35.50X. However, the listing was a relative disappointment. Here is the CarTrade Tech listing story on 20th August.

The IPO price was fixed at the upper end of the band at Rs.1,618 after the 20.29X subscription. On 20 Aug, the stock of CarTrade Tech listed on the NSE at a price of Rs.1,599.80, a discount of -1.12% over the issue price. On the BSE, the stock listed at a price of Rs.1,600, representing listing discount of -1.11%.

Check: CarTrade Tech IPO Subscription

On the NSE, CarTrade Tech closed at Rs.1,491, a steep first day closing discount of -7.85% over the issue price. On the BSE, the stock closed at Rs.1,500.10, a first day closing discount of -7.29% over the issue price. The stock just kept falling through the day on the bourses.

On Day-1 of listing, CarTrade Tech touched a high of Rs.1,618 on the NSE and a low of Rs.1,475. On Day-1, the CarTrade Tech stock traded a total of 115.73 lakh shares on NSE amounting to value of Rs.1,802.55 crore.  In terms of traded value, CarTrade recorded the second highest turnover during the day after Tata Steel.

On the BSE, CarTrade Tech touched a high of Rs.1,610 and a low of Rs.1,476. On BSE, the stock traded a total of 5.22 lakh shares amounting to value of Rs.81.08 crore. At the close of Day-1, CarTrade Tech had a market capitalization of Rs.6,878 crore with free-float market cap of just Rs.1,994 crore.

 

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