CarTrade Tech has completed the acquisition of 100% stake of Sobek Auto India (Sobek) from its holding company OLX India B.V. As part of the deal, the company has acquired 100% of Sobek, which is engaged in the business of automotive digital platform and classifieds internet business. The acquisition is in furtherance of the strategic objectives of the Company to undertake investments which provide synergistic benefits to the existing businesses of CarTrade Tech. The acquisition has been completed on August 11, 2023. Cash consideration of Rs 535.53 crore was paid for the acquisition of 75,09,847 equity shares.
The company is a multi-channel auto platform provider company. The company operates various brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz.
Company Name | CMP |
---|---|
Popular Vehicles & Services | 222.00 |
Competent Auto | 553.50 |
Landmark Cars | 685.00 |
CarTrade Tech | 812.50 |
Naksh Precious Metal | 9.33 |
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