New Delhi: Highdell Investment, a company owned by Warburg Pincus, a US private equity firm, sold its complete 8.64 pc share in Cartrade Tech for slightly more than Rs 375 crore in an open market deal on Tuesday. Cartrade Tech is among the biggest online classifieds and auto auction platforms in India. As per the bulk deal data on the NSE, Highdell Investment offloaded 40.76 lakh shares, representing an 8.64 percent ownership in Cartrade Tech.
The stocks were sold for an average of Rs 920.30 each, resulting in a total transaction amount of Rs 375.16 crore. In the meantime, Mirae Asset Mutual Fund acquired 30.22 lakh shares, equivalent to a 6.4 pc ownership in Cartrade Tech through three separate transactions, as reported on the National Stock Exchange (NSE). The stocks were acquired for an average cost of Rs 920 per share, resulting in a total deal worth Rs 278.02 crore.
Information about the remaining purchasers of Cartrade Tech's stocks could not be ascertained on the stock exchange. In June, Warburg Pincus divested 8.66 percent of its ownership in CarTrade Tech for Rs 337 crore. Cartrade Tech's shares increased by 0.40 per cent and closed at Rs 979.30 on the NSE.
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