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HDFC shares dips on Carlyle Group stake sale


HDFC shares dips on Carlyle Group stake sale
Housing Development Finance Corporation shares fell on Friday after media reports that U.S. private equity firm Carlyle Group is set to sell a 3.7% stake to raise as much as $861 million.

The shares of the company was seen trading lower by 4.61% at Rs 751 on BSE at 10.30 am IST. It touched intra-day low of Rs 738.


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, as per Reuters report.

As per reports, the deal would raise $861 million, making it India's fourth-largest equity deal this year.

HDFC's consolidated net profit rose 25.1% to Rs 1275.86 crore on 21.6% growth in total income to Rs 7276.51 crore in Q1 June 2012 over Q1 June 2011.

Read more about: hdfc
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