Temasek Sells Nearly 4% Stake in CarTrade Tech for ₹470 Crore

Singapore-based state-owned investment firm Temasek has divested nearly a 4 per cent stake in Navi Mumbai-headquartered multi-channel auto platform CarTrade Tech for ₹470 crore. The transaction was executed through an open market deal.

According to the bulk deal data available on the Bombay Stock Exchange (BSE), the divestment was carried out by Temasek's affiliate, MacRitchie Investments Pte Ltd. The firm offloaded 18.20 lakh shares, which represent a 3.74 per cent stake in the company. The shares were disposed of at an average price of ₹2,583 per share, bringing the total deal value to ₹470.10 crore.

Following this latest transaction, Temasek's shareholding in CarTrade Tech through MacRitchie Investments has decreased from 6.82 per cent to 3.08 per cent.

On the purchasing side, institutional buyers stepped in to acquire the majority of the offloaded equity. US-based Capital Group, acting through its arm SmallCap World Fund Inc, alongside Norway's Government Pension Fund Global, together purchased over 17.23 lakh shares. This acquisition translates to a 3.54 per cent holding in CarTrade Tech, amounting to ₹445 crore. These shares were acquired at the same matching price of ₹2,583 apiece.

Following the market activity, shares of CarTrade Tech experienced an upward movement, rising by 3.72 per cent to close at ₹2,699.30 per share on the BSE.

"Secondary market transactions of this scale reflect healthy liquidity and active institutional participation in listed Indian technology platforms. When early investors trim their stakes and established global funds like Capital Group and Norway's Government Pension Fund Global step in at the same price point, it demonstrates continued institutional confidence in the company's market position. Such capital realignments are a standard part of the investment lifecycle for mature platforms." — Dr. Shishir Gupta, Founder & CEO, StartupLanes