Warburg Pincus Exits Car Trade, Sells 8.6% Stake For Rs 375 Cr: Report
At an average price of Rs 920 per share, the shares were acquired, bringing the total deal value to Rs 278.02 crore, according to media reports
Through an open market transaction, Highdell Investment, a subsidiary of US-based private equity company Warburg Pincus, sold its entire 8.64 per cent ownership in Cartrade Tech for more than Rs 375 crore, according to media reports.
Highdell Investment sold 4.076 million shares, or 8.64 per cent of the company, at an average price of Rs 920.30 per share, according to media reports. This brought the transaction value to Rs 375.16 crore, as reported by the media.
In the meantime, three different transactions saw the acquisition of 3.022 million shares, or 6.4 per cent of Cartrade Tech, by Mirae Asset Mutual Fund, according to media reports. These shares were bought for a total of about Rs 278.02 crore, or an average of Rs 920 per share, as per media reports.
At an average price of Rs 920 per share, the shares were acquired, bringing the total deal value to Rs 278.02 crore, according to media reports.
It was not possible to identify the other buyers of Cartrade Tech's shares on the exchange, as reported by media sources. For Rs 337 crore, Warburg Pincus sold an 8.66 per cent share in Cartrade Tech in June, according to media reports. Cartrade Tech's shares increased 0.40 per cent to close at Rs 979.30 a share on the National Stock Exchange, as per media reports.
