Founded- 2000 Year.
Founder- Vinay Sanghi
Headquarters- Navi Mumbai.
Area served- India.
Key people- Vinay Sanghi, Banwari Lal Sharma.
Products- Car Selling and Buying, Bikeswale, Carwale.
Subsidiary- Shriram Automall
Number of employees- 1400+
CarTrade Tech is India’s leading online car sell and Buy platform. It was founded in 2000, headquartered in Navi Mumbai, Maharashtra. The company is led by Vinay Sanghi and it has multiple Auto platforms with coverage and presence across the different vehicle types and value-added services.
Cartrade tech was incorporated in 2000 and Vinay Sanghi is the CEO of the company. It worked under several brands like CarTrade, Shriram Automall, Bikewale, Carwale, Adroit Auto, Auto Biz and CarTradeExchange. Cartrade Tech aims to create an automotive digital ecosystem that connects automobile customers, OEMs, dealers, banks, Insurance companies, and other shareholders.
In Nov 2015, CarTrade acquired the Carwale startups, the deal closed for US $ 90 million dollars. The Carwale platform shows research regarding cars. In 2018, CarTrade Tech acquired a 51% stake in the Shriram Automall takeover from Shriram Group. Now this acquisition makes CarTrade India’s largest physical and online marketplace for vehicles.
The company raised US $ 307 million dollars in funding over 8 rounds from its investors such as Temasek, Jo Morgan, March Capital, Tiger Global Management, and IIFL. Their latest funding was raised on 12 April 2021, through venture series rounds. CarTrade Tech Limited has filed DRHP with the Security Experience Board of India (SEBI) for its proposed public offering in May 2021.
Products and Services
CarTrade Tech giant spread under well-reputed brands like Carwale, Shriram Automall, Bikewale, Cartrade, Adroit Auto, Auto Biz, and CarTradeExchange.
Customers come to the Carwale platform to Buy new or used cars or sell their cars. They can also do research regarding cars and Carwale provides tools such as Car reviews, price guides, car specifications, car images, used car inventory, car finance offers, and trade-in tools. In turn, new and used cars dealers and OEMs get access to these customers and can reach out to customers.
Customers come to CarTrade to buy or use cars or sell cars. It gives you research tools the same as Carwale. A large number of customers using CarTrade required auto finance for their used or new vehicles purchase.
On this platform, customers come to buy a new two-wheeler or to sell their bikes. Customers can research using their tools such as bike reviews, specifications, finance offers, and price guides. OEMs and dealers can showcase their vehicles and advertise their brands and products on Bikewale platforms.
Shriram Automall provides retail sellers, automotive dealers, financial institutions, insurance companies, fleet and individual operators, leasing companies, OEMs, and other institutional sellers with fast and convenient solutions to sell their vehicles at sale auctions conducted online as well as offline at their 114 auto malls or yards.
Adroit Auto provides on-site inspection and valuation to a wide range of companies within the insurance and baking space.
CarTrade Tech Limited plans to raise Rs 2999 Cr through a public offering. The company has fixed a price band of Rs 1585 to Rs 1618 per share. The IPO will open on 9 August 2021 and close on 11 August 2021. The issue may be listed on August 23, 2021, on BSE and NSE platforms. Cartrade IPO’s latest grey market premium of Rs 440 to Rs 460 at a 30 percent premium.
- The leading marketplace for automobile sales with synergetic Ecosystems.
- Brands and customers experience driving powerful network effects- Their brands Carwale, Bikewale, Shriram Automall, CarTrade, Adroit Auto, Auto Biz, and CarTradeExchange.
- Focus on data science to provide superior solutions to the users.
- CarTrade Tech has a profitable and scalable business model.
- Founder-led management team.
- Auto platform CarTrade Tech shares made a weak debut as the stock listed with a 1.11 percent discount to issue a price of Rs 1,618 per share. The stock opened at Rs 1,600 on the BSE and Rs 1,599.80 on the National Stock Exchange.
- The stock of CarTrade Tech had a muted market debut on 20 Aug, closing with a discount of nearly 8 percent against its issue price of Rs 1,618.
CarTrade share price is down 15% below the IPO price of Rs 1618, But analysts remain bullish on share. CarTrade is a digital platform for the second-hand car market, which is expected to grow from the current $27 billion to $50 billion by 2026 (By Mint).
Founder & CEO
Mr. Victor Anthony Perry III
Non- Excutive Director
Ms. Kishori Jayendra Udeshi
Banwari Lal Sharma
Area Served- India