SBI Cards' Shares Fall By 6.7% As PE Giant Carlyle Sells 5.1% Stake
Carlyle sold 48 million shares at Rs 1,002 apiece to raise Rs 4,810 crore.
Topics
SBI Cards | Carlyle | shares
BS Reporter |
An SBI card (Representational image)
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
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First Published: Fri, June 18 2021. 20:06 IST
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