BY A STAFF REPORTER
SBI Life to fall as Carlyle may sell 1.9% stake in co
Shares of SBI Life Insurance Co are expected to fall today, snapping a three-day winning streak, as US private equity major Carlyle Group is likely to sell its entire 1.9% stake in the company through block deals.
Carlyle's affiliate CA Emerald Investments is set to sell 19 mln shares at 1,130-1,136.85 rupees each, a marginal discount of 0.6% to Wednesday's close, at the lower end of the range.
The private equity major will be able to raise 21.47 bln rupees at the lower end of the price band.
The foreign portfolio investor held 6% stake in the company in the March quarter, before reducing its stake to 1.9% in the June quarter.
Source : Eureka
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