CarTrade Converts Into A Public Company Ahead Of IPO
India, May 11 -- Mumbai based online auto classifieds startup CarTrade.com has converted itself from a private limited company to a public company, ahead of its planned initial public offering (IPO) scheduled for this year. The company's registered name is now CarTrade Tech Limited.
The company has also approved the appointment of its founder and CEO Vinay Sanghi as managing director (MD) of CarTrade for the next five years. Foodtech giant Zomato, which also filed its DRHP recently, had made a similar move while converting itself into a public limited company, by appointing Deepinder Goyal as the MD of the company for the next five years.
The development comes a week after a media report suggested that CarTrade may file its red herring ...
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