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Below is quote on CarTrade Tech Ltd IPO Subscription Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

On 2nd day, CarTrade Tech Ltd IPO issues subscribed -0.60x (1:47 pm as per BSE website). It was subscribed 1.17 times in the retail investor category. The qualified institutional buyers (QIBs) and the non-institutional investors (NIIs) had subscribed to the issue 0.01 times and 0.08 times respectively. Going ahead the company will fully subscribe mainly due to strong brand, better technology platforms, a profitable & scalable business model. Further, 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 its unlisted peers in terms of financial.

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