SBI Card tumbles after block deals

5 Apr 2022 , 12:11 PM

At 9:16 IST, around 37.04 lakh equity shares, representing 0.39% of total equity of SBI Cards and Payment Services, changed hands at the counter on the BSE. Details of the buyers and sellers were not immediately known.

The media reported that private equity firm Carlyle Group will sell its entire stake in SBI Cards and Payments Services for as much as Rs 2,558 crore. CA Rover Holdings, a Carlyle entity which, as of 31 December 2021, held 2.92 crore shares or 3.09% stake, in SBI Cards, will sell its entire stake in the firm through a block trade. The shares are being offered at Rs 851.50 – 876.75 each, representing around 3% discount to the stocks last closing price on the BSE.

SBI Card is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients. It reported an 84% jump in net profit to Rs 385.7 crore on a 23.6% rise in total income to Rs 3,139.66 crore in Q3 FY22 over Q3 FY21.

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