CarTrade Tech IPO - Structural Long-Term Growth Drivers, Strong Brand Recognition: Nirmal Bang

Second hand automobiles on the forecourt of a dealership. (Photographer: Chris Ratcliffe/Bloomberg)

CarTrade Tech IPO - Structural Long-Term Growth Drivers, Strong Brand Recognition: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

NIrmal Bang's IPO Report

CarTrade Tech, an online automotive portal and the only profitable player in this space, is the first-of-its-kind company to list on the Indian exchanges.

Both of CarTrade’s platforms - CarWale and BikeWale – are ranked number one on relative online search popularity.

Favorable tailwinds in terms of rising digitalisation, rising share of used cars to new cars, rising digital ad spends by original equipment manufacturers and dealers and large total addressable market, combined with a reputed brand name augur well for CarTrade to deliver sustainable growth and profitability.

Even though we are positive on the company’s future growth prospects given the large addressable market, we take cognizance of the cyclicality element involved in the business.

Click on the attachment to read the full IPO report:

Nirmal Bang Cartrade Tech Ltd - IPO Note .pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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