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The stock listed at Rs 1,600, falling 1.11 per cent from the issue price on BSE. As trade progressed, it tumbled 8.77 per cent to Rs 1,476.
On NSE, it made its debut at Rs 1,599.80, lower by 1.12 per cent.
The company’s market valuation was at Rs 7,079.53 crore on BSE.
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Founded in 2009, CarTrade is backed by marquee investors — Warburg Pincus, Temasek, JPMorgan, and March Capital.
The CarTrade platform allows customers to buy and sell used cars as well as new cars.
The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands — CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz.