Carlyle offloads more stake from SBI Cards for $440 mn

US-based private equity giant Carlyle on Tuesday offloaded an additional 3.4% stake in SBI Cards and Payment Services Ltd for Rs 3,267.6 crore (about $442 million). 

This will reduce its stake to about 3.1%. Also today: Societe Generale bought 85.06 lakh shares at Rs 1,021 apiece. 

In 2017, Carlyle had bought a 26% stake in the credit cards business for an undisclosed amount. 

In March 2020, it sold 10% stake through SBI Cards’ initial public offering (IPO) for about Rs 7,000 crore, making a gain of about 8.5 times in three years. 

In March 2021, Carlyle sold 4 crore shares (4.3% stake) at Rs 986 apiece. Later in June, it sold 4.8 crore shares for about Rs 5,000 crore ($675 million).