CarTrade Tech IPO - Differentiated, Profitable Business Model: ICICI Direct
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ICICI Direct's IPO Report
CarTrade Tech is a multi-channel auto platform with a presence across varied vehicle types and value-added services.
Through its platforms (operated under the brand names of CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz), the company serves as an integrated online and offline marketplace for vehicle owners, dealerships, original equipment manufactures and other businesses.
Its services span the gamut of automotive transaction value chain, i.e. marketing, buying, selling and financing of new and pre-owned cars, two-wheeler, commercial vehicle and other vehicles.
As of FY21, CarTrade Tech had 2.6 crore monthly average unique visitors on its websites/apps (of which 88.4% were organic i.e. from unpaid sources) and featured 8.14 lakh vehicle listings on its online and offline auction platforms.
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