Private Equity Liquidity Events
Temasek divests 3.74% stake in auto marketplace CarTrade Tech for Rs.470-Cr
Singapore-based Temasek, through its affiliate MacRitchie Investments, has divested a 3.74% stake in the Navi Mumbai-based multi-channel auto platform CarTrade Tech . The transaction was executed through an open market sale on the BSE, involving 18.20 lakh shares at an average price of INR 2,583 per share. Following this sale, Temasek’s holding in the company has decreased from 6.82% to 3.08%.CarTrade Tech facilitates the buying and selling of vehicles. It also provides various automotive services and maintains a presence across India.
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Temasek first invested in CarTrade in Jan 2016. The company went public in Aug 2021, as part of which, Temasek had made a part exit. It subsequently sold shares in Jun 2024.For FY25, CarTrade.com had reported about INR 238 Cr in Operating Income and about INR 74 Cr in PAT.