Private Equity

Liquidity Events

Warburg, Temasek & JP Morgan sell 13.77% stake in CarTrade for Rs 535-Cr

Business Standard  

Warburg Pincus, Temasek Holdings and JP Morgan have divested a total of 13.77 per cent stake (6.4 million shares) in CarTrade Tech for INR 535 crore through open market transactions.Highdell Investment, an unit of Warburg Pincus, sold 4 million shares, amounting to an 8.66 per cent stake in CarTrade. Temasek unit MacRitchie Investments offloaded 2 million shares or 4.33 per cent stake. The shares were sold in the price range of INR 828-828.58 apiece by the two entities on the BSE.CMDB II, a unit of JP Morgan Investment Management, disposed of 0.3 million shares at an average price of INR 830.27 apiece on the NSE.After the stake sale, shareholding of Warburg Pincus in CarTrade Tech has declined to 8.7 per cent from 17.36 per cent, and stake of Temasek also reduced to nearly 12 per cent from 16.31 per cent.