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.
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9 per cent in HDFC.

Last year, Citigroup had reduced stake in HDFC to 9.
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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