Carlyle group cuts stake in India’s HDFC to 3.9-pct

MUMBAI, Feb 2 (AsiaPulse) – US-based private-equity firm
Carlyle Group on Wednesday reduced its stake to about 4 per
cent in leading Indian mortgage company HDFC (BSE: 500180). Carlyle had 5.22 per stake in HDFC. The private equity firm
sold about 1.3 per cent stake in the company through open
market transaction, sources said.

The CMP Asia, an entity of the Carlyle Group sold 2 crore
shares at Rs 677.21 a piece, earning Rs 1,354 crore from stake
offload, a BSE bulk deal announcement said. Prior to the paring
of stake, CMP Asia held 7.7 crore shares.

Following the move, CMP Asia’s stake has come down to 3.9
per cent in HDFC.

Last year, Citigroup had reduced stake in HDFC to 9.9 per
cent from 11.4 per cent. Currently, Citi holds 9.85 per cent
stake in HDFC through Citigroup Strategic Holdings Mauritius
and Citigroup Holdings Mauritius as of December 31, 2011. Shares of HDFC closed at Rs 687.40, down 1.28 per cent on
the BSE.

(PTI) cg