M&A

M&A

CarTrade to acquire classifieds biz previously owned by OLX for Rs.537-Cr

BSE Disclosure  

Publicly listed CarTrade.com is to acquire 100% stake in Gurugram-headquartered Sobek Auto India Pvt Ltd - from its holding company OLX India B.V. - for INR 537.43 crore. Sobek runs an automotive digital platform and a classifieds internet business, which it had recently acquired along with other brand and IP licences, from OLX India Pvt Ltd. It reported a turnover of INR 1,110 crore for FY22, up from INR 592 crore in FY21.