Shares of SBI Cards and Payment Services dipped 5 per cent to Rs 836 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after over 3 per cent of the equity of the company changed hands at the counter via block deals.

In the morning trade, around 31.9 million equity shares representing 3.37 per cent equity of SBI Cards changed hands on the NSE, the exchange data shows. The names of the buyers and sellers were not ascertained
immediately.

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As per reports, private equity firm Carlyle Group was to sell its entire stake in the company for Rs 2,558 crore via a block trade. CA Rover Holdings, a Carlyle entity, as of the December 2021 quarter, held 29.20 million shares or a 3.09 per cent stake in SBI Cards. The shares were offered at Rs 851.50-876.75 apiece, representing around a 3 per cent discount from Monday’s closing price.

Earlier on September 21, 2021, CA Rover Holdings sold 32 million equity shares or 3.4 per cent stake of SBI Cards at an average price of Rs 1,021 per share on the NSE, as per data shows.