Carlyle to sell 4% stake in SBI Cards

US-based private equity firm Carlyle Group will sell 4 per cent stake (38 million shares) in SBI Cards and Payment Services on Wednesday through block trade. 

The shares are being offered in a range between Rs 981.8 and Rs 1,022 apiece. 

The share sale could fetch Rs 3,880 crore for Carlyle. Shares of SBI Cards closed at Rs 1,021 apiece on Tuesday. 

BofA Securities is the sole bookrunner for the transaction. Carlyle had sold a 10 per cent stake in SBI Cards' IPO last year. 

Carlyle currently holds nearly 16 per cent stake in the Indian credit card company.