CarTrade Tech makes tepid market debut; tumbles 7% at close of trade

CarTrade Tech made a tepid debut on the bourses on Friday. The stock got listed at Rs 1,600 per share, a 1 per cent discount to its issue price of Rs 1,618 apiece. The stock corrected further and ended the session at Rs 1,500, a 7 per cent discount over the issue price.
 
CarTrade Tech’s initial public offering (IPO) was subscribed 20.29 times. The institutional investor portion was subscribed 35 times, the wealthy investor portion 41 times, and the retail investor portion 2.75 times.
 
The IPO was an offer-for-sale worth Rs 2,998 crore. The company had raised Rs