NSEAs many as 71 lakh shares, or 15.1% equity, of CarTrade Tech worth ₹588.3 crore changed hands at ₹828 per share in block deals on Monday, June 24.The official buyers and sellers of the block deal are not yet known.
On Sunday, CNBC-TV18 had reported, citing sources, that Highdell Investment and MacRitchie Investments Pte have initiated a block trade in CarTrade Tech.
The sources added that the block deal was valued ₹400 crore, with an option to increase by an additional ₹100 crore.
The lock-up period for the transaction would be 75 days, sources said.They had added that the total base size of the block would be 10.4% of the total equity, with an upsize option extending up to 13%.
The stock has gained 74% in the past year.
NSE
As many as 71 lakh shares, or 15.1% equity, of CarTrade Tech worth ₹588.3 crore changed hands at ₹828 per share in block deals on Monday, June 24.The official buyers and sellers of the block deal are not yet known. On Sunday, CNBC-TV18 had reported, citing sources, that Highdell Investment and MacRitchie Investments Pte have initiated a block trade in CarTrade Tech. The sources added that the block deal was valued ₹400 crore, with an option to increase by an additional ₹100 crore. The lock-up period for the transaction would be 75 days, sources said.They had added that the total base size of the block would be 10.4% of the total equity, with an upsize option extending up to 13%. This consists of a 7% stake sale by Highdell Investment and 3.4% by MacRitchie Investments with an upsize of 1.7% and 0.9% respectively, sources said.The floor price for the deal was set at ₹820 per equity share, offering a 4.3% discount compared to the last closing price, sources said on Sunday.At end of the March quarter, Highdell Investment held a 17.36% stake in the company, while MacRitchie held a 16.3% stake.CarTrade Tech shares were trading 3% lower at ₹831.65 apiece at 9.20 am on Monday, June 24. The stock has gained 74% in the past year.
