Major Stakeholders Divest Shares in CarTrade Tech

Warburg Pincus, Temasek Holdings, and JP Morgan Investment sold a combined 13 per cent stake in CarTrade Tech for Rs 535 crore through open market transactions. The divestment affected the share prices of CarTrade Tech, which saw a decline on both NSE and BSE.

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

US-based Warburg Pincus' subsidiary Highdell Investment, alongside Singapore's Temasek Holdings' MacRitchie Investments, offloaded their shares on the BSE.

JP Morgan Investment's private equity fund CMDB II also sold its shares of the online auto classified platform on the NSE. CarTrade Tech's shares subsequently fell over 2 per cent on both exchanges.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)