Carlyle to divest 3.4% stake in SBI Cards, puts 32 mn shares in the block

Private equity firm Carlyle Team will divest 3.four for each cent stake in SBI Cards and Payment Services on Tuesday by way of a block trade. According to a time period sheet reviewed by Enterprise Conventional , CA Rover Holdings, a subsidiary of Carlyle, has put on the block 32 million shares in the selling price band of Rs one,021–Rs one,072.3 for each share. Shares of SBI Cards previous closed at Rs one,071.7, down .six for each cent on the BSE.

At the lessen close of the selling price band, Carlyle will be capable to increase Rs 3,267.2 crore ($443 million). BofA Securities and Citigroup International Markets are dealing with the share sale. At the time of SBI Cards’ listing in March 2020, Carlyle held fifteen.89 for each cent stake in the credit score card significant. Because then, the US-based mostly PE has marketed its holdings in various tranches. In June 2021, the PE investor experienced offloaded five.one for each cent stake to increase in excess of Rs four,800 crore at an average selling price of around Rs one,002. In March 2021, it experienced divested about four.twenty five for each cent for Rs 3,940 crore.

Carlyle to divest 3.4% stake in SBI Cards, puts 32 mn shares in the block

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