Carlyle cuts stake in HDFC through $270 million block

The tightly priced transaction is well received and is expected to encourage other financial sponsors to take profits as the Indian stock market recovers.

Carlyle cuts stake in HDFC through $270 million block

US private equity group Carlyle has raised Rs13.54 billion $270 million from the sale of about a quarter of its stake in India’s Housing Development Financing Corp HDFC. The block trade, which was led on a sole basis by Deutsche Bank, was completed late on Tuesday evening and is the first major equity transaction in the Indian market since LT Finance Holdings raised $277 million from an initial public offering in late July.

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