CarTrade Tech IPO Subscription Day 3

Car trade

IPO
Last Updated: 2021-10-29T14:22:48+05:30

The Rs.2,999 crore IPO of CarTrade Tech, consisting entirely of offer for sale (OFS), got a good response on the last day of the IPO. HNI segment showed the best traction followed by QIBs in a last day surge. As per the combined bid details put out by the BSE at the close of Day-3 of the issue, CarTrade IPO was subscribed 20.29X overall, with bulk of the demand coming from the HNI and QIB segments. The issue has closed on Wednesday, 11th August.

In terms of numbers, out of the 129.73 lakh shares on offer in the IPO, CarTrade Tech saw applications for 2,631.75 lakh shares. This implies an overall subscription of 20.29X. The granular break-up of subscriptions was tilted in favour of HNIs and QIBs.
 

CarTrade Tech IPO Subscription Day-3

Category

Subscription Status

Qualified Institutional Buyers (QIB)

35.45 Times

Non Institutional Investors (NII)

41.00 Times

Retail Individuals

2.75 Times

Employees

N.A.

Overall

20.29 times

 

QIB Portion

The QIB portion saw most of the action on Day-3. On 06 Aug, CarTrade did an anchor placement worth Rs.900 crore. The QIB portion, net of anchor allocation, was subscribed 35.45X (getting applications for 1,313.89 lakh shares against the available quota of 37.06 lakh shares) at the close of Day-3.

HNI Portion

The HNI portion got subscribed 41.00X (getting applications for 1,139.70 lakh shares against the quota of 27.80 lakh shares). The predominant funded and corporate applications came in on the last day of the issue.

Retail Individuals

The retail portion got subscribed 2.75X at the close of Day-3, showing reasonable retail appetite. Out of the 64.86 lakh shares on offer, valid bids were received for 178.16 lakh shares, of which bids for 135.85 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.1,585-Rs.1,618) and has closed for subscription on Wednesday, 11th August.

 

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