*Carlyle sells 2.78% stake in SBI Cards for Rs 2,229 cr | Business Standard News

Clipped from: https://www.business-standard.com/article/companies/carlyle-sells-2-78-stake-in-sbi-cards-for-rs-2-229-cr-122040501146_1.html

CA Rover Holdings, an affiliate firm of the Carlyle Group, sold a total of 26.17 million shares at Rs 852 apiece, shows data provided by the stock exchange

An SBI card (Representational image)

An SBI card (Representational image)

Private equity firm Carlyle Group on Tuesday sold 2.78 per cent stake in SBI Cards & Payments Services for Rs 2,229.3 crore via block deals.

CA Rover Holdings, an affiliate firm of the Carlyle Group, sold a total of 26.17 million shares at Rs 852 apiece, shows data provided by the stock exchange. The names of the buyer weren’t disclosed

Shares of SBI Cards ended 4.32 per cent lower at Rs 839. At the end of December 2021 quarter, Carlyle held 3.09 per cent stake in SBI Cards.

In 2017, Carlyle had acquired 26 percent stake in SBI Cards from the GE Group for around Rs 2,000 crore. The PE major divested 10 per cent stake in SBI Cards’ IPO in March 2020. Post-listing of SBI Cards, Carlyle has sold the remaining 16 stake through a number of tranches. In September 2021, it had sold 3.4 per cent stake for Rs 3,268 crore and in March 2021, it had sold 4 per cent for Rs 3,880 crore.

Shares of SBI Cards are down 12 per cent in the past one year, underperforming the benchmark Nifty which has gained 22 per cent.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s