Carlyle secures partial exit from India's SBI Cards
The Carlyle Group has generated proceeds of approximately INR70.3 billion ($951 million) through a partial exit from SBI Cards & Payments, the State Bank of India's (SBI) credit card issuing arm, through a recent IPO.
The private equity firm sold around 93.2 million shares for INR755 apiece, reducing its holding from 26% to 16%. The partial exit implies a return multiple of 8x on the initial investment. SBI continues...
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