Carlyle Said to Sell $283M Stake in India’s HDFC

Carlyle Group LP is selling 20 million shares in Housing Development Finance Corp. (HDFC), valued at about 14 billion rupees ($283 million), according to three people with knowledge of the matter.

Enough orders have been submitted to cover the shares being offered, said one of the people, who declined to be identified as the details are confidential. Deutsche Bank AG is handling the sale, said the people.

Carlyle, which invested in HDFC in 2007, will hold a less than 4 percent stake in the mortgage lender after this sale, the people said. HDFC shares closed at 697.85 rupees today, up 1.4 percent.

A spokesman for Carlyle didn’t immediately return a call seeking comment.

To contact the reporters on this story: George Smith Alexander in Mumbai at galexander11@bloomberg.net; Ruth David in Mumbai at rdavid9@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

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