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 L&T Finance Holdings raised $277 million from an initial public offering in late July.