Car Trade Tech Limited, a multi-channel auto platform that operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz, has filed its papers with the regulator to raise close to Rs 2,000 crore, as per market sources.
As stated in the DRHP, the Initial Public Offering an Offer of Sale of up to 1,23,54,811 equity shares by Investor Selling Shareholder, CMDB II, Highdell Investment Ltd, Macritchie Investments Pte. Ltd, Springfield Venture International, Bina Vinod Sanghi, Daniel Edward Neary, Shree Krishna Trust, Steve Greenfield, Victor Anthony Perry III, Vinay Vinod Sanghi (Jointly Held With Seena Vinay Sanghi), By Vinti Rajesh Gajree (Jointly Held With Vinay Vinod Sanghi) and Viraj Vinod Sanghi (Jointly Held With Niki Viraj Sanghi).
The Mumbai-based company is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. It offers a variety of solutions across the automotive transaction value chain for marketing, buying, selling and financing of new and pre-owned cars, two-wheelers as well as pre-owned commercial vehicles and farm and construction equipment.
According to RedSeer Report, in the Fiscal 2021, the company platforms, CarWale and BikeWale, ranked number one on relative online search popularity when compared to their key competitors, while Shriram Automall is a leading used vehicle auction platform based on the number of vehicles listed for auction for the financial year 2020.
Car Trade Tech Limited is the only and most profitable automotive digital platform, amongst key competitors.
The company has an advanced and sophisticated technology platform. Data-driven digital platforms operate on an integrated technology infrastructure that is powered by its self-collected data and analytics. The company’s websites and apps are handling approximately 2.05 million user sessions per day for the three months ended December 31, 2020.
Car Trade Tech Limited is led by its Chairman, Managing Director and CEO, Vinay Vinod Sanghi, who has 30 years of experience in the automotive industry. The organisation focuses on building an environment of innovation, trust, respect, ownership, agility and teamwork. Marquee institutional shareholders include affiliates of Warburg Pincus, Temasek, JP Morgan and March Capital.
Between FY18-20, the company’s total income grew at a CAGR of 45.94%. In the FY 20, adjusted EBITDA margin stood at 22.71%.
Investment Bankers appointed to the issue are Axis Capital Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Nomura Financial Advisory and Securities (India) Private Limited.
