Temasek has sold a 4% stake in CarTrade Tech through open market transactions. The divestment by the investment firm reached a total value of around ₹470.11 crore.
Through its affiliate MacRitchie Investments, Temasek offloaded 18.20 lakh shares of the company. The shares were sold at an average price of ₹2,583.00 apiece in the open market.
Smallcap World Fund Inc purchased 14.30 lakh shares for around ₹369.25 crore. Norges Bank, acting for the Government Pension Fund Global, acquired 2.94 lakh shares for around ₹75.85 crore. CarTrade Tech operates as a multi-channel auto platform with various brands including CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, AutoBiz and OLX India. The company maintains a presence across various vehicle types and provides value-added services to its customers through these diverse platforms. The firm manages these operations through its extensive network of brands that cover both new and used vehicle segments across the country.
Based on company and agency reports. For information only; not investment advice.