Private Equity

Liquidity Events

Carlyle Group sells 1.9% stake for Rs.2,147-Cr to exit SBI Life

Business Line  

The Carlyle Group has exited SBI Life Insurance Company by selling its 1.9% shareholding in the firm through open market transactions for INR 2,147 crore. Carlyle Group, through its entity CA Emerald Investments, sold a total of 1.9 crore shares at an average price of INR 1,130 apiece. On the same day, SBI Life shares were picked up by Max Life Insurance Company, Morgan Stanley Asia Singapore Pte, HDFC Standard Life Insurance, BNP Paribas Arbitrage, Bofa Securities Europe SA, Societe Generale, Integrated Core Strategies (Asia) Pte. The shares were also picked up by a host of mutual funds including Kotak Mahindra Mutual Fund, Pioneer Investment Fund, Nippon Indian Mutual Fund, Franklin Templeton Mutual Fund, SBI Mutual Fund and ICICI Prudential Mutual Fund.