CarTrade IPO: Listing of shares on August 20, know at what price the shares can be listed

CarTrade Share Listing: The listing of the shares of CarTrade, which sells cars and bikes online, is going to happen on BSE and NSE on August 20. 

This is the first company to be listed in this segment. So it will also have the advantage of listing first.

The issue of CarTrade opened on 9th August and closed on 11th August. Its issue was subscribed 20.29 times. In this, qualified institutional buyers had bid 35.45 times. 

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While the reserve portion for non-institutional buyers has booked 41 times. The retail portion was full 2.75 times. The company has raised Rs 2998.51 crore in the issue and it was purely an offer for sale.

Mehta Equities VP Research Prashant Taapsee said, “The issue received a good response from QIB and HNI. We expect its shares to be listed at Rs 1780-1800 level. The issue price of the IPO is 10-12 per cent higher than that of Rs 1618."

Aastha Jain, Senior Research Analyst, Hem Securities said that CarTrade shares could be listed 5-7 per cent above the issue price.

What's going on Gray Market Premium?

Currently, the Gray Market Premium (GMP) of unlisted shares of CarTrade is running at Rs 150-170. That is, it is 9.3-10.5 per cent higher than its issue price of Rs 1618