SBI Cards plunges 6% as 4% equity changes hands on Exchanges via block deal

According to a term sheet reviewed by Business Standard, CA Rover Holdings, a subsidiary of Carlyle, had put on the block 32 million shares on Tuesday in a price band of Rs 1,021-Rs 1,072.30 per share

Shares of SBI Cards and Payment Services (SBI Cards) plunged 6 per cent to Rs 1,012 on the National Stock Exchange (NSE) and BSE in intra-day trade on Tuesday as private equity (PE) firm Carlyle Group’s proposed to divest 3.4 per cent stake in the company through a block trade.

As of 10:07 am; a combined 37.18 million equity shares representing 4 per cent equity of SBI Cards changed hands on the NSE (36.84 million shares) and BSE (1.31 million shares), the data shows. The names of the buyers were not ascertained immediately.

According to a term sheet