All you need to know about

CARTRADE TECH LIMITED

Issue Details
Issue Amount : Upto ₹ 2,999 Cr
Post Issue Implied Market Cap: Upto ₹7,416 Cr at Upper Band
Total shares on offer : Upto 18,532,216 Equity Shares
Face Value : ₹10 per share
Price Band : ₹1,585 to ₹1,618
Lot Size : 9 shares
Registrar : Link Intime India Private Limited

Source : BRLM

Offer Breakup

Category Allocation Issue size Issue size( ₹ in Cr)

(Shares approx)
Lower Band Upper Band

QIB 50% 9,266,107 1,468.68 1,499.26

NIB 15% 2,779,833 440.60 449.78

Retail 35% 6,486,276 1,028.07 1,049.48

Total 100% 18,532,216 2,937.36 2,998.51

Source : BRLM.
IPO timeline `
IPO Open: `

09
Monday, August 09, 2021

IPO Close:
Wednesday, August 11, 2021 AUGUST

17 August Finalization of 18 August Refunds/Unblocking

2021 basis of allotment 2021 ASBA fund

20 August Credit of equity 23 August Trading

2021 shares to DP account 2021 commences

Source : BRLM. Dates are tentative

The objective of the offer

The company proposes to utilise the Net Proceeds of the fresh offer towards
the following
To carry out the offer for sale

To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The Company will not receive any proceeds from the Offer and all such proceeds
will go to the Selling Shareholders

Further, the Company expects that listing of the Equity Shares will enhance its
visibility and brand image and provide
liquidity to its Shareholders and will
also provide a public market for
the Equity Shares in India.

Source : RHP
About the company
The company’s platforms, CarWale and BikeWale, ranked number one on relative online search
popularity when compared to their key competitors over the period from April 2020 to March
2021, while Shriram Automall is one of the leading used vehicle auction platforms based on
number of vehicles listed for auction for the financial year 2020. Among our key competitors, it
is the only profitable automotive digital platform for the financial year 2020. The company is a
multi-channel auto platform with coverage and presence across vehicle types and value-added
services (Source: RedSeer Report). Our platforms operate under several brands: CarWale,
CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. Through
these platforms, it enables new and used automobile customers, vehicle dealerships, vehicle
OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner. Its
vision is to create an automotive digital ecosystem which connects automobile customers,
OEMs, dealers, banks, insurance companies and other stakeholders.

It generates revenues from several business streams primarily comprising:

(a) commission and fees from auction and remarketing services of used vehicles for retail
customers, banks and other financial institutions, insurance companies, OEMs, leasing
companies, and fleet and individual operators, in the amount of ₹ 142.49 Cr for the financial year
2021;

(b) online advertising solutions on CarWale, CarTrade and BikeWale for OEMs, dealers, banks
and other financial institutions;

(c) lead generation for OEMs, dealers, banks and other financial institutions and insurance
companies;

(d) technology-based services to OEMs, dealers, banks and other financial institutions and
insurance companies;

(e) inspection and valuation services for banks and other financial institutions, insurance
companies and OEMs, in the amount of ₹ 17.69 Cr for the financial year 2021.

Source : RHP
Strengths

Leading marketplace Brands and customer Proprietary end-to-end

for automotive sales experience driving technology platforms
with a synergistic powerful network effects
ecosystem

Focus on data science Profitable and scalable Founder-led management

to provide superior business model team
solutions

Source - For more details please refer page 125 of RHP

Risks

May be adversely affected May experience disruptions, Its actual or perceived failure
by a general decline in failures or breaches of their to protect personal
individual car ownership or technology platforms information and other data
sudden declines in demand could damage its reputation
for certain types of vehicles and brands

Company may be adversely May not be able to acquire, The COVID-19 pandemic, or
affected by fraudulent utilize and maintain domains a similar public health threat,
behavior of sellers or and trademarks could impact its business
purchasers of used vehicles
listed on their platforms

Source - For more details please refer page 23 of RHP

Important Financial Data

As at As at As at
Particulars March 31, March 31, March 31,
(in ₹ crore) 2021 2020 2019
Particulars
(in ₹ crore)
Total Assets 1,930.20 1,470.41 1,427.91

Revenue from 249.70 298.30 243.30

Operations

Revenue Growth -16.29 22.61 NA

(%)

EBITDA 712.01 597.86 530.30

Profit 101.07 31.29 25.92

after tax
Basic EPS
(₹) 22.06 5.65 4.31

RONW
(%)
5.43 1.73 1.36

Source : RHP. Revenue growth for FY 19 not known as FY 18 numbers unavailable

Peer Comparison
There are no listed companies in India that engage in a business similar to that
of the Company. Accordingly, it is not possible to provide an industry comparison
in relation to the Company
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Source : BRLM & Moneycontrol. Anchor portion excluded for subscription details.

For more details refer offer documents on sebi www.sebi.gov.in

The securities quoted are exemplary and are not recommendatory. Such representations are not indicative of future results.
Source of statistical information, charts, graphs etc – RHP, DRHP, addendum and Moneycontrol.

Investment in securities market are subject to market risks, read all the related documents carefully before investing.
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