Carlyle arm sells 5.1% stake in SBI Card worth ₹4,811 cr in bulk deal
MUMBAI: CA Rover Holdings, an arm of private equity giant Carlyle, on Friday sold 48 million shares or 5.1% stake in SBI Cards and Payment Services for ₹4,811 crore in a bulk deal.
According to the data available on the exchanges, CA Rover Holdings sold 37.42 million shares of SBI Card at an average price of ₹1,002.20 per share, aggregating to ₹3,750 crore on the NSE, and 10.58 million shares at ₹1,002.64 totalling ₹1,061.16 crore.
Morgan Stanley Asia (Singapore) PTE – ODI bought 5.41 million shares at ₹1,002 apiece worth ₹542 crore, data provided by the stock exchange showed.
According to the latest shareholding pattern, CA Rover Holdings held 11.61% stake in SBI Card. In March, Carlyle had sold a stake of a little over 4% in SBI Card for about ₹3,800 crore through block deals to reduce its stake to 11.61%.
SBI Cards and Payment Services reported a 110% rise in net profit at ₹175 crore for the quarter ended March 2021 against a net profit of ₹84 crore in the corresponding January-March period of the preceding fiscal year 2019-20. Total income fell 1.67% to ₹2,468 crore for the March 2021 quarter from ₹2,510 crore in the same quarter a year ago.
From the beginning of the year, SBI Card shares gained 18.21% against a rise of 9.62% in the benchmark index, Sensex.
Shares of SBI Cards lost 4.03% to close at ₹1,005.70 on Friday on the BSE, while Sensex gained 0.04% to close at 52,344.45 points.
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