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CarTrade IPO oversubscribed 20.29 times with 263 Mn bids for shares

Shortpedia

Content Team
Image Credit: shortpedia

Mumbai-based auto marketplace CarTrade’s initial public offering (IPO) was oversubscribed 20.29 times on the closing day of the subscription on Wednesday. The three-day IPO received bids for 263,174,823 shares against 12,972,552 shares on offer, according to data from the bourses. The IPO had a slow start as the net subscription status stood at 99% of the total offering in the first two days.