IPO Review - Cartrade Tech Limited By Mr. Amarjeet Maurya, Angel Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
About Company: Cartrade Tech Limited was incorporated on April 28, 2000. Cartrade is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. They offer 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. Their platforms operate under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.
Outlook & Valuation: In terms of valuations, the post-issue FY2021 PE works out 73.4x to (at the upper end of the issue price band). There are no listed peers for comparison. However, the company is doing better compared to unlisted peers in terms of financial. We believe the company has a strong brand, better technology platforms, a profitable & scalable business model. Hence , we recommend a subscribe rating on the issue.
Above views are of the author and not of the website kindly read disclaimer
