Carlyle selling HDFC shares to raise up to $861 mn
Carlyle is selling about 57 million shares of HDFC in the price band of Rs 760 to Rs 781.25 a share
US private-equity firm Carlyle Group is selling its 3.7% stake in India's top mortgage lender Housing Development Finance Corp Ltd in a deal to raise as much as $861 million, according to a term sheet seen by Reuters on Thursday.
Carlyle is selling about 57 million shares of HDFC in the price band of Rs 760 to Rs 781.25 a share, a discount of 1-3.7% from Thursday's closing price of 789.05 rupees, the term sheet said.
Citigroup is the sole bookrunner for the deal.