Home / Markets / Stock Markets /  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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