CarTrade IPO subscribed 41% on day 1, retail portion booked 80%

Online auto classifieds platform CarTrade Tech's ₹2,998-crore IPO was subscribed 41% on day 1, with investors bidding for 53 lakh equity shares against an IPO size of 1.29 crore equity shares. Nearly 80% of the retail portion of the IPO was subscribed. CarTrade has fixed the price band at ₹1,585-₹1,618 apiece for the issue which will close on August 11.