Carlyle to divest 3.4% stake in SBI Cards, puts 32 mn shares in the block

Price band set at Rs 1,021-Rs 1,072.3 per share; At the lower end of the band, Carlyle will raise Rs 3,267.2 crore

Private equity firm Carlyle Group will divest 3.4 per cent stake in SBI Cards and Payment Services on Tuesday through a block trade. According to a term sheet reviewed by Business Standard , CA Rover Holdings, a subsidiary of Carlyle, has put on the block 32 million shares in the price band of Rs 1,021–Rs 1,072.3 per share. Shares of SBI Cards last closed at Rs 1,071.7, down 0.6 per cent on the BSE.

At the lower end of the price band, Carlyle will be able to raise Rs 3,267.2 crore ($443 million). BofA Securities and Citigroup Global Markets are