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Warburg Pincus exits India's CarTrade Tech in $45 mln share sale
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Warburg Pincus exits India's CarTrade Tech in $45 mln share sale
Sep 24, 2024 9:08 AM

BENGALURU, Sept 24 (Reuters) - U.S.-based private equity

firm Warburg Pincus's unit sold its entire 8.6% stake in Indian

automobile portal CarTrade Tech on Tuesday through a

bulk deal worth 3.75 billion rupees ($44.86 million), according

to NSE data.

As of June 30, Warburg Pincus owned more than 4 million

shares in CarTrade through its unit Highdell Investment, making

it the company's second-largest shareholder, according to LSEG

data.

Highdell sold its entire stake at a price of 920.3 rupees

per share, a near 6% discount to CarTrade's closing price on

Monday.

Mirae Asset Mutual Fund purchased over 3 million shares at

an average price of 920 rupees per share.

($1 = 83.5930 Indian rupees)

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