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What’s Buzzing: Carlyle looking at 5% stake sale in SBI Card

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Carlyle is looking to sell 4.8 crore shares, which is around 5 percent equity and the price band suggested was between Rs 1,000 and Rs 1,040, which means around 5 percent odd discount to the last closing price.

Carlyle is looking to sell 4.8 crore shares, which is around 5 percent equity and the price band suggested was between Rs 1,000 and Rs 1,040, which means around 5 percent odd discount to the last closing price.
Within six months, this is the second branch coming in from Carlyle where they are selling another 5 crore shares. That supply overhang seems to be there, which can have an impact on the stock price on Friday.
With every stake sale from Carlyle, the weight of SBI Card in the MSCI goes up. So, in the near term, it is positive but for today’s trading, the stock may be under pressure because of this large block.
Generally, there is slippage as well which impacts the stock price in the near term. But from a medium-term perspective, it is positive because the weight in MSCI for SBI Cards will go up once this block deal happens.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.

Market Movers

CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
ITC212.40 5.40 2.61
Wipro599.15 14.95 2.56
SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17
CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
ITC212.40 5.40 2.61
Wipro599.15 14.95 2.56
SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.4000-0.0600-0.08
Euro-Rupee87.5450-0.0830-0.09
Pound-Rupee102.3880-0.0780-0.08
Rupee-100 Yen0.6730-0.0030-0.44