Plutus Wealth Management picks 0.8% stake each in Cartrade Tech, WeWork India

Arpit Khandelwal-founded investment firm Plutus Wealth Management has acquired around 0.8 percent stake each in Cartrade Tech, and WeWork India Management, via open market transactions on October 10.

Cartrade Tech shares, which have been in a consolidation mode for a month now, corrected 1.22 percent to close at Rs 2,444.8 on Friday, while WeWork India Management disappointed investors on its market debut day today — falling 3 percent to finish at Rs 628.65 against issue price of Rs 648.

Plutus Wealth Management LLP has bought 3.75 lakh shares (0.78 percent stake) in Cartrade, the multi-channel auto platform, at Rs 2,445.04 per share, valued at Rs 91.68 crore, however, Goldman Sachs India sold 3.61 lakh shares (0.76 percent stake) at Rs 2,445 per share for Rs 88.41 crore.

Meanwhile, Plutus Wealth Management acquired 11.46 lakh shares (0.85 percent stake) in WeWork, the workspace solutions provider, at Rs 630.17 per share for Rs 72.27 crore.

However, CLSA Global Markets - ODI sold 12.5 lakh shares in WeWork at Rs 631.76 per share for Rs 78.97 crore, and BofA Securities Europe SA offloaded 9.44 lakh shares at Rs 643.17 per share for Rs 60.73 crore.

As per the latest shareholding pattern published on October 9, CLSA Global Markets - ODI had held 1.74 percent stake (23.31 lakh shares) in WeWork.WeWork India launched its Rs 3,000 crore-initial public offering last week, closing on October 7 with just 1.15 times subscription.