CARTRADE TECH LTD. - IPO - Review

​By a Staff Reporter: CARTRADE TECH LTD. - IPO - Review

Cartrade Tech Ltd’s (CTTL) platforms, CarWale and BikeWale, ranked

number one on relative online search popularity when compared to their

key competitors over the period from April 2020 to March 2021, while

Shriram Automall is one of the leading used vehicle auction platforms based

on number of vehicles listed for auction for the financial year 2020 (Source:

RedSeer Report). Led by Chairman, Managing Director and CEO, Vinay Vinod

Sanghi, who has over 30 years of experience in the automobile industry.

Under his leadership, Company acquired Automotive Exchange Private

Limited (CarWale and BikeWale) in 2015 and 55.43% of the outstanding

equity interest in Shriram Automall India Limited (SAMIL) in 2018 and

successfully integrated these businesses. It is also backed by several

marquee institutional shareholders, such as Highdell Investment Ltd

(affiliate of Warburg Pincus LLC), Temasek, JP Morgan and March Capital

through their affiliates MacRitchie Investments Pte. Ltd., CMDB II and

Springfield Venture International respectively.

Source : Eureka

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