Private Equity Private Equity Fund Investments
Carlyle sells SBI Cards shares worth Rs.4,811-Cr; registers 11.12x return
Private equity investor The Carlyle Group has sold 48,000,000 equity shares (equivalent to a 5.10% stake) at an average price of INR 1,002.29 per share of publicly-listed SBI Cards and Payment Services Ltd. The sale, through bulk deals on the NSE and BSE on June 18, 2021, aggregated to INR 4,810.98 crore. Post the sale, Carlyle would hold 61,173,488 equity shares (6.50% stake) in SBI Cards.
From the Venture Intelligence PE-VC Deal Database: In Dec 2017, Carlyle had invested INR 1,647.77 Cr for a 26% stake in SBI Cards and INR 201.94 Cr for 26% in SBI Business Process Management Services. On Jul 31, 2018, Carlyle invested an additional INR 122.20 Cr in SBI Cards. In Jul 2019, SBI Business Process Management Services got amalgamated with SBI Cards.
In Mar 2020, SBI Cards got listed at INR 755 per share. Carlyle made part exit as part of the IPO. It made another part exit in Mar 2021.