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Tuesday, September 21, 2021

IPO Wrap: CarTrade Tech IPO subscribed 20.29 times; Nuvoco Vistas IPO subscribed 1.71 times

CarTrade Tech IPO and Nuvoco Vistas Corporation IPO subscription status: CarTrade Tech IPO was subscribed 20.29 times on the final day, while Nuvoco Vistas Corporation IPO witnessed 1.71 times subscription by the end, data available on the National Stock Exchange (NSE) showed.

By: Express Web Desk | New Delhi |
Updated: August 13, 2021 8:00:54 am
IPO, CarTrade, CarTrade Tech IPO, CarTrade Tech IPO subscription, CarTrade Tech IPO price band, CarTrade Tech issue size, CarTrade Tech subscription, Nuvoco Vistas IPO, Nuvoco Vistas issue subscription, Nuvoco Vistas IPO subscription, Nuvoco Vistas IPO updateThe IPOs of both CarTrade Tech and Nuvoco Vistas Corporation were available for subscription from August 9-11, 2021. (Representative image: Pixabay)

The two initial public offerings (IPOs) of CarTrade Tech and Nuvoco Vistas Corporation, which were launched earlier this week were met with good demand by the investors.

CarTrade Tech IPO was subscribed 20.29 times on the final day, while Nuvoco Vistas IPO witnessed 1.71 times subscription by the end, data available on the National Stock Exchange (NSE) showed.

The CarTrade Tech IPO received bids for over 26.31 crore (26,31,74,823) shares against the total issue size of over 1.29 crore (1,29,72,552) shares, the NSE data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 35.45 times, while those of non institutional investors was subscribed 41.00 times and that of retail individual investors (RIIs) was subscribed 2.75 times, the data showed.

The Rs 2,999 crore IPO of the online auto classified platform had opened for subscription on Monday, August 9, 2021, and concluded at 5 pm on Wednesday, August 11, 2021. It had a price band of Rs 1,585-1,618 per share and before heading into the IPO, CarTrade Tech raised nearly Rs 900 crore (Rs 8,99,55,36,352) from 43 anchor investors in lieu of 55,59,664 equity shares at Rs 1,618 each.

Speaking of Nuvoco Vistas Corporation, the IPO of the cement manufacturer received bids for over 10.70 crore (10,70,27,492) shares against the total issue size of 6.25 crore (6,25,00,001) shares, according to the stock exchange data.

The shares which are to be allocated for the QIBs was subscribed 4.23 times, while those of non institutional investors was subscribed 0.66 times and that of RIIs was subscribed 0.73 times, the data showed.

The Rs 5,000 crore Nuvoco Vistas IPO too had opened for subscription on Monday, August 9, 2021, and concluded Wednesday. It had a price band of Rs 560-570 per share and before heading into the IPO, the cement manufacturing company raised nearly Rs 1,500 crore (Rs 14,99,99,99,160) from 66 anchor investors in lieu of 2,63,15,788 equity shares at Rs 570 each.

Going ahead, investors will now look forward to the share allotment date of both issues. The finalisation of the basis of allotment for both Nuvoco Vistas Corporation and CarTrade Tech is expected to take place on Tuesday, August 17, 2021, as per the information provided in the red herring prospectus of both companies.

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