Carlyle sells 2.78% stake in SBI Cards for Rs 2,229 cr

Private equity firm Carlyle Group on Tuesday sold 2.78 per cent stake in SBI Cards & Payments Services for Rs 2,229.3 crore via block deals.

CA Rover Holdings, an affiliate firm of the Carlyle Group, sold a total of 26.17 million shares at Rs 852 apiece, shows data provided by the stock exchange. The names of the buyer weren’t disclosed

Shares of SBI Cards ended 4.32 per cent lower at Rs 839. At the end of December 2021 quarter, Carlyle held 3.09 per cent stake in SBI Cards.

In 2017, Carlyle had acquired 26 percent stake in SBI Cards from the GE Group for around Rs 2,000 crore. The PE major divested 10 per cent stake in SBI Cards’ IPO in March 2020. Post-listing of SBI Cards, Carlyle has sold the remaining 16 stake through a number of tranches. In September 2021, it had sold 3.4 per cent stake for Rs 3,268 crore and in March 2021, it had sold 4 per cent for Rs 3,880 crore.

Shares of SBI Cards are down 12 per cent in the past one year, underperforming the benchmark Nifty which has gained 22 per cent.

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


Leave a Comment