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
Trending On Reuters
India can increase public investment to drive growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday. Full Article