The mad rush of adrenalin on listing seems to be tapering off. CarTrade Tech got listed on the BSE at Rs.1600 v/s IPO price of Rs.1618, a discount of over 1%.

This discounted listing is despite the good response for the IPO, which had subscribed over 20 times with HNIs portion taking the big share at 41 times, QIBs at 35.34 times and retail at 2.75 times.

In our IPO Analysis, we had concluded, “We are unable to justify the exorbitant OFS pricing and hence do not recommend the IPO.”