Carlyle likely to sell 3.7% stake in HDFC for over Rs 4,000 cr
New Delhi: Global fund house Carlyle is likely to sell its 3.7 percent stake in housing finance major HDFC Ltd for an estimated Rs 4,000-4,500 crore and the stake sale may take place early as Friday.
US-based Carlyle, which holds 5.7 crore shares through one of its entities CMP Asia in Housing Finance Development Corporation (HDFC), may sell its entire holding through open market transactions Friday morning, investment banking sources involved in the deal said.
At the current market price, the shares would fetch Carlyle close to Rs 4,500 crore and the proceeds could be more than Rs 4,000 crore even if the shares are sold at a discount, sources added.
HDFC shares Thursday rose 1.65 percent to close at Rs 788.85 at the BSE. The company currently commands a market value of more than Rs 1,20,600 crore.
Earlier in the day, the stock had hit its 52-week high of Rs 793.85 crore. The shares have witnessed a sharp rally this year, rising from near Rs 600 level in December, 2011.
More from India
More from World
More from Sports
More from Entertaiment
- Cortana for Android available for public beta in US
- Xiaomi Redmi 2 Vs Redmi 2 Prime: Specification comparisons
- Middle class woes to continue, wholesale onion price shoots up to Rs 57 per kg
- Alleged land encroachment in Greater Noida: HC asks DM to decide representation in 3 months
- Watch: Review of Mahindra TUV300