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
Micromax, which has become India's No. 2 smartphone brand just five years after selling its first handset - a $30 made-in-China model, is looking to go upmarket and overseas. Full Article
Asia-Pacific M&A volume falls for third consecutive year, deal size grows. Full Article