CarTrade Tech Limited — M&A Activity 2023

Jul 10, 2023

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Date: July 10, 2023

To, Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai - 400001 Scrip Code: 543333

To, Listing Department, National Stock Exchange of India Limited Exchange plaza, Plot No. C/1, G Block Bandra Kurla Complex, Bandra East, Mumbai – 400051 Scrip Symbol: CARTRADE

ISIN: INE290S01011

Dear Sir,

• Sub: Intimation of execution of definitive agreement for acquisition of 100% stake in M/s Sobek Auto India Private Limited.

• Ref: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This is to inform you that on July 10, 2023 CarTrade Tech Limited (the “ Company ”) has entered into a share purchase agreement with M/s Sobek Auto India Private Limited (“ Sobek ”), and its holding company OLX India B.V. for acquisition of 100% stake of Sobek from OLX India B.V. subject to completion of certain conditions and on the terms and conditions agreed between the parties in the share purchase agreement.

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 are as under:-

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Sr.	Particulars		Details	Details
No.
a)	Name of the target entity, details in brief such as size, turnover etc.		M/s Sobek Auto India Private Limited (“Sobek”) a company incorporated under the Companies Act, 2013. Authorised Share Capital – Rs.77,000,000/- Paid Up Capital – Rs.38,407,530/- Last 3 years turnover (Rs. In Lakhs) Financial Year Amount 2021-22 1,11,040 2020-21 59,228 2019-20 55,642
			Financial Year	Amount
			2021-22	1,11,040
			2020-21	59,228
			2019-20	55,642
b)	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”.		The acquisition does not fall within the related party transaction and none of the group companies have any interest in the above entities.
c)	Industry to which the entity being acquired belongs		Automotive / Internet industry
d)	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)		The acquisition is in furtherance of the strategic objectives of the Company to undertake investments which provide synergistic benefits to the existing businesses of the CarTrade Tech.

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Sr.	Particulars	Details
No.
e)	Brief details of any governmental or regulatory approvals required for the acquisition.	Not Applicable
f)	Indicative time period for completion of the acquisition	About twenty one (21) to thirty (30) days or as may be mutually decided between the Parties.
g)	Nature of consideration - whether cash consideration or share swap and details of the same;	Cashconsideration
h)	Cost of acquisition or the price at which the shares are acquired;	The acquisition of Sobek will be for a consideration of INR 5,374,343,031/- to be paid on the completion date of the acquisition.
i)	Percentage of shareholding / control acquired and / or number of shares acquired;	100%
j)	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	Sobek is a company incorporated under the Companies Act, 2013. It is engaged in the business of running an automotive digital platform and a classifieds internet business. On June 30, 2023, Sobek has acquired the classifieds internet business from OLX India Private Limited on the terms and conditions agreed under a business transfer agreement. As part of the acquisition of Sobek, Sobek has entered into an Intellectual Property License Agreement and a Transitional Support Agreement for the use of certain brands and technology. Date of Incorporation – October 30, 2018 Countryof Incorporation – India

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Sr.	Particulars		Details
No.
			Last 3 years turnover	(Rs. In Lakhs) Amount 1,11,040 59,228 55,642
			Financial Year	Amount
			2021-22	1,11,040
			2020-21	59,228
			2019-20	55,642

Kindly take the same on your records.

Thanking you,

Yours faithfully,

For CarTrade Tech Limited

PAL LAL BAHADUR Digitally signed by PAL LAL BAHADUR DEEPNARAYAN DEEPNARAYAN _______ Lalbahadur Pal Company Secretary and Compliance officer Mem. No. A40812

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