 "CarTrade offering bought 20 times; late buying helps Nuvoco Vistas")
The initial public offering (IPO) of CarTrade Tech, a company that operates online platforms for buying and selling of vehicles, garnered 20.3 times subscription. Cement maker Nuvoco Vistas Corporation’s offering, on the other hand, was subscribed 1.7 times.
The response to both issues was modest when compared to recent IPOs. Nuvoco Vistas’ IPO comprised of fresh fundraise of Rs 1,500 crore and secondary sale of Rs 3,500 crore, while CarTrade’s was entirely secondary share sale of nearly Rs 3,000 crore.
The IPOs of Aptus Value Housing Finance (subscribed 37 per cent) and Chemplast Sanmar (subscribed 26 per cent) close on Thursday.
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