In a bid to raise as much as $861 million, U.S. private-equity firm Carlyle Group has sold its 3.7 percent stake in India’s top mortgage lender Housing Development Finance Corporation (HDFC).
Carlyle has offloaded about 57 million shares of HDFC in a price band of Rs 760 to Rs 781.25 a share - a discount of 1-3.7 percent from the lender’s closing price on Thursday of Rs 789.05.
In February this year, Carlyle had sold a quarter of its stake in HDFC, raising about $270 million and nearly doubling its 2007 investment in the mortgage lender.
