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