U.S. private-equity firm Carlyle Group is selling its 3.7 percent stake in India’s top mortgage lender Housing Development Finance Corp. Ltd in a deal to raise as much as $861 million, according to a term sheet seen by Reuters on Thursday. Carlyle is selling about 57 million shares of HDFC in the price band of 760 rupees to 781.25 rupees a share, a discount of 1-3.7 percent from Thursday’s closing price of 789.05 rupees, the term sheet said.
(Reuters) – U.S. private-equity firm Carlyle Group is selling its 3.7 percent stake in India’s top mortgage lender Housing Development Finance Corp Ltd in a deal to raise as much as $861 million, according to a term sheet seen by Reuters on Thursday.
Carlyle is selling about 57 million shares of HDFC in the price band of 760 rupees to 781.25 rupees a share, a discount of 1-3.7 percent from Thursday’s closing price of 789.05 rupees, the term sheet said.
Citigroup is the sole bookrunner for the deal.
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