HDFC shares fall; Carlyle selling 3.7 pct stake
MUMBAI (Reuters) - India's top mortgage lender Housing Development Finance Corp (HDFC.NS) falls 3.2 percent as U.S. private equity firm Carlyle Group is set to sell a 3.7 percent stake to raise as much as $861 million, according to a term sheet seen by Reuters.
Carlyle is selling about 57 million shares of HDFC in a price band of 760 rupees to 781.25 rupees a share - a discount of 1-3.7 percent from the lender's closing price on Thursday of 789.05 rupees, the term sheet said.
(Reporting by Rafael Nam; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
Microsoft Corp reported higher-than-expected quarterly revenue, helped by stronger sales of its phones, Surface tablets and cloud-computing products for companies, while keeping its margins intact. Read
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article