SBI Cards stock drops post block deal; Carlyle arm sells stake worth Rs5,000cr

Earlier in the day, around 64 million shares, representing 6.8% of the total equity of the company, changed hands on the NSE and BSE, exchanges data shows.

Jun 18, 2021 04:06 IST India Infoline News Service

SBI Card
Shares of SBI Cards and Payment Services was under pressure on Friday after media reports stated that Carlyle Group was looking to sell its stake worth Rs5,000cr in the company.

The stock fell after nearly 7% of the company's total equity changed hands on the NSE and BSE. Earlier in the day, around 64 million shares, representing 6.8% of the total equity of the company, changed hands on the NSE and BSE, exchanges data shows. However, the names of the buyers and sellers could not be ascertained immediately.

As per ET reports, US private equity fund CA Rover Holdings, an affiliate of Carlyle Asia Partners, is looking to sell a 5.1% stake in the company worth $682 million or Rs5,000cr through a block deal today.

As of March 31, 2021, CA Rover Holdings, a subsidiary of Carlyle Group, held an 11.61% stake in SBI Cards, shareholding pattern data showed.

The stock ended at Rs1,005.70 down by Rs45.15 or 4.3% from its previous closing of Rs1,050.85 on the BSE.

The scrip opened at Rs1,011.05 and touched a high and low of Rs1,014 and Rs981.30 respectively.

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