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SBI Cards tumbles over 6.5% post block deals; Carlyle likely seller


SBI Cards and Payment Services share price tumbled 6.6 percent to its day's low of Rs 981.30 apiece on the BSE. The credit card company's share price has gained over 70 percent in the last one year and18 percent YTD.

Shares of SBI Cards and Payment Services declined over six percent on Friday after nearly seven percent of the company's equity changed hands via block deals.
Around 6.4 crore shares, representing 6.8 percent equity of the company, changed hands on the NSE and BSE, the data available on the exchanges showed. However, the names of the buyers and sellers were not immediately disclosed.
The credit card company's stock fell as much as 6.6 percent to its day's low of Rs 981.30 per share on the BSE. It has gained over 70 percent in the last one year. It has risen 18 percent so far in 2021.
However, reports said that US-based private equity (PE) firm Carlyle had planned to offload around 4.8 crore shares aggregating to a 5.1 percent stake in the firm on Friday, worth Rs 5,000 crore. A price range of Rs 1,002 to Rs 1,041.3 per share was decided for the sale.
As of March 31, 2021, CA Rover Holdings, a subsidiary of Carlyle Group, held an 11.61 percent stake in SBI Cards.
In March, CA Rover Holdings had sold a 4.3 percent stake or 4 crore shares in SBI Cards and Payment Services via block deals for Rs 3,944 crore at Rs 986 apiece. This had reduced its stake in the firm from 15.86 percent to 11.61 percent.

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