Business Update20 Aug 2024, 03:42 pm
M&G (Lux) Investment Funds Acquires 5% Stake in CarTrade Tech Ltd
AI Summary
M&G (Lux) Investment Funds, along with other investment funds and The Prudential Assurance Company Limited, have acquired a significant stake in CarTrade Tech Ltd, resulting in an aggregate position crossing 5%. This acquisition includes shares carrying voting rights, shares in the nature of encumbrance, voting rights otherwise than by equity shares, and warrants/convertible securities. The acquisition details are provided in accordance with Regulation 29 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Key Highlights
- M&G (Lux) Investment Funds and other investment funds acquire 5% stake in CarTrade Tech Ltd
- The acquisition includes various categories of shares and voting rights
- The Prudential Assurance Company Limited is also a part of the acquisition
- The acquisition is disclosed in accordance with Regulation 29 (1) of SEBI SAST Regulations, 2011
- CarTrade Tech Ltd shares are listed on BSE Limited and National Stock Exchange of India