Carlyle Group Sells Stake in India’s HDFC in Latest Exit (Asia)

Source: The Wall Street Journal  |  Author: Raghavendra Upadhyaya

The Carlyle Group, through its CMP Asia investment vehicle, sold approximately 57 million shares in HDFC, an Indian private sector bank. The share sale, which took place on both the Bombay Stock Exchange and National Stock Exchange, saw Carlyle divest approximately 3.71 percent of HDFC, representing its entire stake, for an aggregate value of approximately US$838 million. Carlyle had partially exited from HDFC in February 2012, selling approximately 20 million shares at an average price of INR677 (US$13.48) per share.