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Home / Markets / Ipo /  CarTrade vs Nuvoco Vistas IPOs: GMPs, other details you need to know

CarTrade vs Nuvoco Vistas IPOs: GMPs, other details you need to know

CarTrade, Nuvoco Vistas IPOs details

  • CarTrade IPO will close on August 11 and the price band of the share sale has been fixed at 1,585-1,618 a share

Nuvoco Vistas Corporation, part of the Nirma Group, and online auto classified platform CarTrade initial public offerings (IPOs) will open for subscription today. The companies are raising funds to retire their debt, funding capital expenditure requirement and for general corporate purposes. Besides, existing shareholders are divesting their stakes in the IPOs.

Nuvoco Vistas Corporation, part of the Nirma Group, and online auto classified platform CarTrade initial public offerings (IPOs) will open for subscription today. The companies are raising funds to retire their debt, funding capital expenditure requirement and for general corporate purposes. Besides, existing shareholders are divesting their stakes in the IPOs.

CarTrade IPO price band is fixed at 1,585-1,618 a share and Nuvoco Vistas at 560-570 per share. The three-day issues will conclude on August 11.

CarTrade IPO price band is fixed at 1,585-1,618 a share and Nuvoco Vistas at 560-570 per share. The three-day issues will conclude on August 11.

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On the second day of the bidding, CarTrade IPO's retail portion has been booked at 1.34 times with the overall issue subscribed 0.71 times as of 3:30 pm, BSE data showed. Nuvoco Vistas IPO has been subscribed 0.27 times with retail portion booked at 0.46 times.

CarTrade shares are available at a premium of 360 in the grey market whereas that of Nuvoco Vistas around 16, as per market observers.

CarTrade: Online auto classified platform CarTrade Tech will launch its initial share sale today. The CarTrade platform allows customers to buy and sell used cars as well as new cars. The issue concludes on August 11 and the price band has been fixed at 1,585-1,618 a share. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.

''CTT (CarTrade Tech) offers a unique play on rising digitisation of new and pre-owned vehicle transaction value chain/ecosystem. Given the prevailing preference for digital platforms including the recent listings, we assign SUBSCRIBE rating to the issue for listing gains. Long term wealth generation at CTT will be a function of scalability, relevance and journey towards healthier return ratios,'' ICICI Direct said in a note.

''..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,'' Amarjeet Maurya - AVP - Mid Caps, Angel Broking said.

Nuvoco Vistas: Cement manufacturer Nuvoco Vistas' initial public offering (IPO) comprises fresh issue of shares worth 1,500 crore and an offer for sale of 3,500 crore by promoter Niyogi Enterprise. The public issue, with a price band of 560-570 a share will open for public subscription on August 9 and conclude on August 11.

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Proceeds of the fresh issue will be used for the repayment of certain loans availed the company and general corporate purpose.

Two more IPOs Aptus Value Housing Finance and Chemplast Sanmar will be open for public subscription this week, with four companies launching their initial share sales this week to raise over 14,628 crore collectively. This comes after four companies, Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles, launched their initial share-sales last week to mobilize 3,614 crore.