Quote on CarTrade IPO by Mr. Santosh Meena, Swastika Investmart Ltd
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Below is quote on CarTrade IPO by Mr. Santosh Meena, Head of Research, Swastika Investmart Ltd
The market is giving premium valuations to the new edge technology companies where CarTrade is likely to debut in the secondary market on 19th August or 23rd August. We have to see how the CarTrade IPO will perform because retail investors' interest has come down significantly amid a correction in midcap and small-cap space but we saw decent subscription numbers by HNIs on the last day.
The major disappointing factor from CarTrade was that its IPO is 100% OFS therefore no money will go into business for future expansion while high competition and low entry barriers are other risk factors. As the market is interested in new edge technology stocks whereas anchor book and HNIs subscription were decent for the CarTrade IPO, so we can expect a listing gain of around 10-15% but we advise only aggressive investors to hold this company for the long term.
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