Carlyle sold 48 million shares at Rs 1,002 apiece to raise Rs 4,810 crore.
Topics
SBI Cards | Carlyle | shares
BS Reporter | Mumbai
Last Updated at June 19, 2021 01:24 IST
Shares of SBI Cards and Payment Services fell as much as 6.7 per cent as private equity major Carlyle divested 5.1 per cent holdings through a series of block deals.
After dropping to a low of Rs 981.3, the scrip ended at Rs 1,008, down 4.2 per cent over previous day’s close.
Carlyle sold 48 million shares at Rs 1,002 apiece to raise Rs 4,810 crore.
The shares were held by Carlyle affiliate firm CA Rover Holdings.
Morgan Stanley Asia bought shares worth Rs 542 crore, data provided by stock exchange showed.
At the end of March quarter, Carlyle held 11.61 per cent stake in SBI Card. Analysts said global index providers will increase SBI Card’s weightage in their global indices following the latest share sale as the free float availability has gone up.
In March, Carlyle had offloaded 4.3 per cent stake at Rs 986 per share to raise Rs 3,944 crore
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Fri, June 18 2021. 20:06 IST
read the full story about SBI Cards’ shares fall by 6.7% as PE giant Carlyle sells 5.1% stake
#theheadlines #breakingnews #headlinenews #newstoday #latestnews #aajtak #ndtv #timesofindia #indiannews