Sunday, January 29th, 2023

Shares of this company may crash like Zomato, lock-in period is ending today

Photo:FILE CarTrade Tech

if you CarTrade Tech If you are an investor in K shares, then be careful! Actually, today the lock-in period for big investors in this company is coming to an end. It is worth noting that the share stock of CarTrade Tech company was listed on 20 August 2021 with a slight discount on BSE and NSE. However, the tech stock declined post listing and the company’s shares are available today at Rs 631, which is almost 60 per cent lower than its offer price of Rs 1,585 to Rs 1,618 per equity share. However, the stock is likely to crash like Zomato shares going forward as the one-year lock-in period for pre-IPO investors ends today. As such, investors who own approximately 57 percent of CarTrade Tech’s shares can decide to book a loss and exit.

2.66 crore shares with pre-IPO investors

CarTrade Tech had issued around 4.66 crore shares, out of which around 2.66 crore shares are held by pre-IPO investors, who were unable to exit the counter due to the one-year lock-in. Since the shares of CarTrade Tech were listed on BSE and NSE on 20 August 2021, its one year lock-in ends today. Now such shareholders of CarTrade Tech are free to exit.

Gemato shares crashed at the end of the lock-in period

Last month, on July 23, 2022, the one-year lock-in period of Zomato shares for pre-IPO investors expired. However, on Monday, when the market opened, the food platform company’s stock saw a heavy sell-off and the stock had hit a new low of Rs 40.60 on the NSE after falling 11.20 per cent and 12.50 per cent respectively on Monday and Tuesday. Therefore, this apprehension is being raised regarding the share of CarTrade Tech company. The market has been in a downtrend since the last two trading sessions. This will act as pressure on this stock.

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