Capital Group buys CarTrade Tech shares worth Rs 440 cr

New Delhi, Nov 27 (PTI) Financial services firm Capital Group on Thursday bought over 3 per cent stake in multi-channel auto platform CarTrade Tech for Rs 440 crore through an open market transaction.

US-based Capital Group, through its affiliate SmallCap World Fund, purchased more than 14.44 lakh equity shares, representing a 3.03 per cent stake in Navi Mumbai-based CarTrade Tech, as per the bulk deal data available on the BSE.

The shares were picked up at an average price of Rs 3,044.58 apiece, taking the transaction value of Rs 439.91 crore.

Meanwhile, global investment firm Goldman Sachs, through its three affiliates, sold a total of 10,71,379 shares, or 2.25 per cent stake, in multi-channel auto platform CarTrade Tech at an average price of Rs 3,044.49 per share.

This took the combined deal value to Rs 326.18 crore.

Details of the other sellers of CarTrade Tech’s shares could not be ascertained on the exchange.

Shares of CarTrade Tech declined 3.72 per cent to close at Rs 3,054.50 apiece on the BSE.

In a separate bulk deal on the NSE, Amansa Capital sold nearly a 1.3 per cent stake in music label Saregama India Ltd for Rs 95 crore through an open market transaction.

Singapore-based Amansa Capital, through its arm Amansa Holding Pvt Ltd, offloaded a little over 24.58 lakh shares, amounting to a 1.28 per cent stake in Kolkata-based Saregama India, as per the data.

The shares were disposed of at an average price of Rs 386.58 apiece, taking the deal value to Rs 95.04 crore.

After the stake sale, Amansa Capital’s equity holding in Saregama India declined to 1.48 per cent from 2.75 per cent.

Details of the buyers of Saregama India Ltd’s shares could not be identified on the National Stock Exchange (NSE).

Shares of Saregama India climbed 4.36 per cent to settle at Rs 397 apiece on the NSE. PTI HG HG BAL BAL