Carlyle Group has sold a 2.78 per cent stake in SBI Cards & Payments Services for Rs 2,229.3 crore via block deals. CA Rover Holdings, an affiliate firm of the Carlyle Group, sold 26.17 million shares at Rs 852 apiece, showing data provided by the stock exchange. The names of the buyer weren’t disclosed. Shares of SBI Cards ended 4.32 per cent lower at Rs 839. At the end of the December 2021 quarter, Carlyle held a 3.09 per cent stake in SBI Cards.

• What is Stock Order : Types, Differences & How Order Works
• India’s Business Activity Hits 3-Month High in Nov Amid Rising Costs
• Trudeau to Cut Sales Tax and Send Checks to Canadians Ahead of Election
• Ashwini Vaishnaw Encourages German Companies to Invest in India
• Flipkart Appoints Dan Bartlett to Board

In 2017, Carlyle had acquired a 26 per cent stake in SBI Cards from the GE Group for around Rs 2,000 crore. The PE major divested a 10 per cent stake in SBI Cards’ IPO in March 2020. Post-listing of SBI Cards, Carlyle has sold the remaining 16 stake through several tranches. In September 2021, it had sold a 3.4 per cent stake for Rs 3,268 crore, and in March 2021, it had sold 4 per cent for Rs 3,880 crore.

Shares of SBI Cards are down 12 per cent in the past one year, underperforming the benchmark Nifty which has gained 22 per cent.