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Auto classifieds portal CarTrade raises Rs.900-Cr from anchor investors

Economic Times  

Online auto classified platform CarTrade Tech has raised INR 900 crore from anchor investors ahead of its IPO. The company has allocated 55,59,664 equity shares to anchor investors at INR 1,618 apiece. Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Kotak MF and Sundaram MF are among the anchor investors. CarTrade allows customers to buy and sell used cars as well as new cars. It is backed by Warburg Pincus, Temasek, JPMorgan and March Capital. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares. The price band has been fixed at INR 1,585-1,618 per equity share.