IPO update: CarTrade

CarTrade came out with its IPO about four months ago. Value Research's analysis of the IPO can be found here. This follow-up article focuses on the IPO's performance, post-IPO events, and changes in its valuation since then. Our analysis of the IPO We gave a score of 15 out of 26 to this multi-channel auto platform when it came out with its IPO. CarTrade is looking to create an automotive digital ecosystem in India. Over the last ten years, it has connected all the stakeholders to one digital platform. Millions of people visit the company's website per month to sell or buy a vehicle. Even though it is a brand where customers come, it is, in essence, a technology and software company that connects all stakeholders in the automobile ecosystem - customers, dealers, manufacturers, banks, insurance companies, etc. CarTrade is also one of the largest data sources for automotive dealer data, consumer data and vehicle data. The company's total addressable market (TAM) is $14 billion (as of FY20).