USA's Carlyle offloads 4.3% stake in SBI Cards, gets Rs 3,944 crore

The company acquired 26 per cent stake in SBI Cards from the GE group for Rs 2,000 crore in 2017.

US-based private equity firm Carlyle Group on Wednesday sold 4.3 per cent stake (40 million shares) in SBI Cards and Payment Services via block deals. 

The shares sold at Rs 986 apiece, fetching Carlyle Rs 3,944 crore. The buyers are not known yet. 

Shares of SBI Cards fell 5 per cent to finish at Rs 971 on Wednesday. 

Following the latest share sale, Carlyle's holding in SBI Cards has dropped to 11.6 per cent. 

Carlyle had sold a 10 per cent stake in SBI Cards' IPO last year. 

In 2017, the company acquired 26 per cent stake in SBI Cards from the GE group for Rs 2,000 crore.

BofA Securities managed books for the transaction.