CarTrade Tech IPO Basis of Allotment

CARTRADE TECH LIMITED

Our Company was incorporated as 'Kaymo Fastener Company Private Limited' on April 28, 2000 at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956 and was granted the certificate of incorporation by the Registrar of Companies, Maharashtra at Mumbai ("RoC"). The name of our Company was subsequently changed to 'MXC Solutions India Private Limited' pursuant to a special resolution passed by our Shareholders at the EGM held on July 31, 2009, and a fresh certificate of incorporation was issued by the RoC on August 12, 2009. The name of our Company was thereafter changed to 'CarTrade Tech Private Limited', pursuant to a special resolution passed by our Shareholders at the EGM held on March 31, 2021, and a fresh certificate of incorporation was issued by the RoC on April 20, 2021. Our Company was converted from a private limited company to a public limited company, pursuant to a special resolution passed by our Shareholders at the EGM held on April 29, 2021 and the name of our Company was changed to 'CarTrade Tech Limited'. Consequently, a fresh certificate of incorporation was issued by the RoC on May 12, 2021. For further details of changes in name and changes in the registered office of the Company, see History and Certain Corporate Matters' on page 151 of the Prospectus dated August 12, 2021 ('Prospectus')

Our Company has filed the Prospectus dated August 12, 2021 with the RoC. and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and trading of the Equity Shares Allotted pursuant to the Offer expected to commence on August 20, 2021.

INITIAL PUBLIC OFFER OF 18,532,216 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF CARTRADE TECH LIMITED ("COMPANY") FOR CASH AT A PRICE OF Rs 1,618 PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF Rs 1.608 PER EQUITY SHARE). THROUGH AN OFFER FOR SALE OF 18,532,216 EQUITY SHARES AGGREGATING TO Rs 29,985.13 MILLION ("OFFER FOR SALE" OR "OFFER"), CONSISTING OF 2,264.334 EQUITY SHARES BY CMDB II AGGREGATING TO Rs 3.663.69 MILLION. 8.409,364 EQUITY SHARES BY HIGHDELL INVESTMENT LTD AGGREGATING TO Rs 13,606.35 MILLION, 5,076,761 EQUITY SHARES BY MACRITCHIE INVESTMENTS PTE. LTD. AGGREGATING TO Rs 8,214.20 MILLION. 1,765,309 EQUITY SHARES BY SPRINGFIELD VENTURE INTERNATIONAL AGGREGATING TO Rs 2,856.27 MILLION (COLLECTIVELY. THE "INVESTOR SELLING SHAREHOLDERS". AND 183,333 EQUITY SHARES BY BINA VINOD SANGHI (JOINTLY HELD WITH VINAY VINOD SANGHI) AGGREGATING TO Rs 296.63 MILLION, 70,000 EQUITY SHARES BY DANIEL EDWARD NEARY AGGREGATING TO Rs 113.26 MILLION, 262,519 EQUITY SHARES BY SHREE KRISHNA TRUST AGGREGATING TO Rs 424.76 MILLION, 50,546 EQUITY SHARES BY VICTOR ANTHONY PERRY III AGGREGATING TO Rs 81.78 MILLION, 450,050 EQUITY SHARES BY VINAY VINOD SANGHI (JOINTLY HELD WITH SEENA VINAY SANGHI) AGGREGATING TO Rs 728.18 MILLION. (COLLECTIVELY, THE "OTHER SELLING SHAREHOLDERS" AND TOGETHER WITH THE INVESTOR SELLING SHAREHOLDERS. SHALL BE REFERED TO AS THE "SELLING SHAREHOLDERS". AND SUCH EQUITY SHARES. THE "OFFERED SHARES"). THE OFFER WOULD CONSTITUTE 40.43% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL.

*Jointly held with Vinay Vinod Sanghi. who is the second holder.

**Jointly held with Seena Vinay Sanghi, who is the second holder

The Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ('SCRR') read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1) of the SEBIICDR Regulations wherein not more than 50% of the Offer were available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") ;("QIB Portion"), provided that our Company, the Major Shareholders and the Investor Selling Shareholders in consultation with the BRLMs. allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares have been added to the Net QIB Portion Further. 5% of the Net QIB Portion was available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIBs. including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utriise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID (in case of RIBs) if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure " on page 301 of the Prospectus.

The bidding period for Anchor Investors opened and closed on Friday. August 6, 2021 The Company received 64 Anchor Investor Bid cum Application Forms from 43 Anchor Investors (including 9 mutual funds through 30 Mutual Fund Schemes) for 5.940.918 Equity Shares. 43 Anchor Investors through 64 Anchor Investor Bid cum Application Forms were allocated 5,559,664 Equity Shares at a price of Rs 1.618 per Equity Share under the Anchor Investor Portion, aggregating to Rs 8,995,536,352.00

The Offer (excluding Anchor Investors Portion) received 1,485,835 applications for 257,095,233 Equity Shares (prior to technical rejections but after removing the multiple and duplicate Bids and Bids not banked/blocked) resulting m 19.82 times subscription. The details of the applications received in the Offer from Retail Individual Investors. Non-lnsbtubonal Investors and QIBs are as under (before technical rejections but after removing multiple or duplicate Bids and Bids not banked I blocked):

Final Demand

A summary of the final demand as per BSE and NSE as on the B^Offer Closing Date at different Bid prices is as under:

The Basis of Alotment was finalized in consultation with the Designated Stock Exchange, being NSE on August 16, 2021.

A. Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Offer Price of Rs 1,61 B per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 2.30 times The total number of Equity Shares Allotted n Retail Individual Bidders category is 6,486,276 Equity Shares to 720.697 successful applicants. The category-wise details of the Basis of Allotment are as under.

B. Allotment to Non Institutional Investors (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Offer Price of Rs 1.618 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 39.83 times. The total number of Equity Shares allotted in this category is 2,779,833 Equity Shares to 2.338 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample)

C. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have bid at the Offer Price of Rs 1,618 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 35.32 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 185.323 Equity Shares and other QIBs including Mutual Funds were allotted the remaining available Equity Shares i.e. 3,521,120 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 3,706,443 Equity Shares, which were allotted to 121 successful Applicants.

D. Allotment to Anchor Investors (After Technical Rejections)

The Company, the Major Shareholders and the Investor Selling Shareholders in consultation with the BRLMs have allocated 5,559,664 Equity Shares to 43 Anchor Investors (through 64 Applications) at the Anchor Investor Offer Price of Rs 1618 per Equity Share in accordance with the SEBIICDR Regulations. This represents 60% of the QIB Portion.

The Board of our Directors of our Company at its meeting held on August 16, 2021 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation are being emailed or dispatched to the email ids or address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on August 16, 2021 and the payments to non-syndicate brokers have been issued on August 17, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on August 17, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing application with BSE and NSE on August 17, 2021. The Company has received listing and trading approvals from NSE and BSE and the trading of Equity Shares is expected to commence on Friday, August 20, 2021

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in.

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited

C-101.247 Park, 1st Floor, L.B.S. Marg, Vikhroli (West), Mumbai 400 083 Maharashtra, India.

Tel: +91 22 49186200: E-mail: cartradeipo@linkmtime.co.in; Website: www.linkintime.co.in Investor Grievance ID: cartradeipo@linkintime.com

Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF CARTRADE TECH LIMITED.

CARTRADE TECH LIMITED has Filed the Prospectus with the RoC and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the BRLMs. i.e. Axis Capital Limited at www.axiscapital.co.in. Citigroup Global Markets India Private Limited at www.onlinecitibank.co.in/rhtmtotigroupglobalscreen1.htm, Kotak Mahindra Capital Company Limited at www.investmentbank.kotak.com and Nomura Financial Advisory and Securities (India) Private Limited at www.nomuraholdings.comcompany/group/asiaindia/index.html. Potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see the section titled "Risk Factors" on page 22 of the Prospectus.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) in the United States, to "qualified institutional buyers" (as defined in Rule 144 A under the U.S. Securities Act), pursuant to Section 4(a) of the U.S. Securities Act.