American private equity firm Carlyle Group will sell SBI Cards & Payments Services Ltd (SBI Cards) stake worth as much as Rs3,730 crore or $513 million through a block deal, according to deal terms seen by Mint.
CA Rover Holdings, a Carlyle entity, will sell 38 million or 4% stake to institutional investors. As of 31 December, Carlyle held a 15.86% stake in the credit card company.
The shares are being offered in a price range of Rs981.80 – Rs1,022.1 per share. At the lower end of the price range the share sale will fetch Carlyle $513 million.
By Swaraj Singh Dhanjal
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