Cartrade Technologies Shareholders Divest Stake Worth Rs 505 Crore

Shareholders of Cartrade Technologies Ltd. have offloaded stakes worth Rs 505 crore via open market deals on Monday.

While Highdell Investment divested an 8.67% stake worth Rs 36 crore, Macritchie Investments sold a 4.33% stake worth Rs 17 crore, as per BSE bulk deal data.

Highdell Investment sold 40.65 lakh shares at Rs 828.58 apiece and Macritchie Investments offloaded 20.32 lakh shares at Rs 828 apiece.

Cmdb II also offloaded 3.6 lakh shares at Rs 830.27 apiece.

According to data on the BSE, Highdell Investment holds a 17.36% stake in the multi-channel auto platform, while Goldman Sachs Funds-Goldman Sachs India Equity Portfolio holds a 1.34% stake, Macritchie Investments holds 16.31% and Cmdb II holds a 6.37% stake, as of March 2024.

On the other hand, Goldman Sachs Funds-Goldman Sachs India Equity Portfolio was among the buyers and acquired a 1.32% stake for about Rs 51 crore. Societe General bought a 1.27% stake for Rs 49 crore in Cartrade Technologies.

Verition Multi-Strategy Master Fund also bought a 1.07% stake for Rs 41 crore.

Patronus Tradetech LLP and The Royal Bank of Scotland PLC, as trustees of Jupiter India Fund, bought 1.04% stakes each at Rs 828.63 per share and Rs 829.06 apiece, respectively.

Bajaj Allianz Life Insurance bought a 1.03% stake in Cartrade for Rs 39 crore.

Other buyers included HSBC Global Investment Funds Asia, Ex Japan Equity Smaller and CLSA Global Markets Pte Ltd-Odi.

Shares of Cartrade Tech closed 2.40% lower at Rs 857.80 apiece, as compared with a 0.16% uptick in the NSE Nifty 50.