CarTrade, Nuvoco Vistas IPOs To Arrive On August 9, 2021


As many as four companies are coming out with their IPOs this week

After last week’s initial public offer (IPO) deluge when four companies had come up with their offers, Indian stock markets will witness the arrival of four more IPOs this week, namely those of CarTrade Tech, Nuvoco Vistas, Chemplast Sanmar and Aptus Value Housing Finance.

Of these, IPOs of CarTrade and Nuvoco Vistas will arrive in the markets tomorrow, i.e. on August 9, 2021. 

Let us find out more about the two IPO.

Online auto classifieds platform CarTrade Tech will come up with its IPO on August 9. It will end on August 11, 2021.

The IPO consists of an offer for sale (OFS) of 18.53 million shares by existing shareholders and promoters.

The price band for the offer has been fixed at Rs 1,585–1,618 per equity share. The company plans to raise Rs 2,998.51 crore through its offer, at the upper end of the price band. The company will not receive any proceeds from the offer as it is a complete offer for sale.

CarTrade helps customers in finding out used as well as new cars on its platform.

Nirma Group’s cement company, Nuvoco Vistas’ issue will also open on August 9 and close on August 11. The company has fixed its IPO’s price at Rs 560-570 a share.

It will comprise a fresh issue of Rs 1,500 crore and an offer for sale of Rs 3,500 crore.

The company plans to raise Rs 5,000 crore through its IPO. It has already raised Rs 1,500 crore from anchor investors on August 6. Nuvoco Vistas will use the proceeds of Rs 1,350 crore from the fresh issue for repaying (in part or full) of certain borrowings and general corporate purposes. 

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