Warburg, Temasek & JP Morgan sell 13.7% stake in CarTrade for Rs 535 cr

Warburg Pincus, Temasek Holdings and JP Morgan Investment on Monday divested a total of 13 per cent stake in CarTrade Tech for Rs 535 crore through open market transactions.

Highdell Investment, an arm of US-based Warburg Pincus, sold the shares of CarTrade Tech while Singapore's sovereign wealth fund Temasek Holdings' affiliate MacRitchie Investments offloaded shares of the company on the BSE.

CMDB II, a private equity fund run by JP Morgan Investment Management also sold the shares of CarTrade Tech through a bulk deal on the National Stock Exchange (NSE).

A total of 64.57 lakh shares or 13.77 per cent stake were pared by Warburg Pincus, Temasek and JP Morgan.

According to the bulk deal data available on the BSE, Highdell Investment sold 40.65 lakh shares, amounting to an 8.66 per cent stake in CarTrade Tech. MacRitchie Investments sold 20.32 lakh shares or 4.33 per cent stake in Mumbai-based CarTrade Tech.

The shares were sold in the price range of Rs 828-828.58 apiece by the tw