SBI Cards and Payment Services tumbled 5.01% to Rs 998.25, amid heavy volumes.
On the BSE, 1.85 crore shares were traded in the counter so far compared with average daily volumes of 78,544 shares in the past two weeks.On the NSE, 4.72 crore shares were traded in the counter so far compared with average daily volumes of 2.26 shares in the past one quarter. Shares of credit card provider hit a high of Rs 1014 and a low of Rs 985 so far during the day.
The media reported that US private equity fund CA Rover Holdings, an affiliate of Carlyle Asia Partners, is looking to sell 5.1% stake in SBI Cards and Payment Services worth Rs 5,000 crore through a block deal on Friday. The per share price band decided by the seller is Rs 1,002-1,041.30, which is up to 4.7% discount to Thursday's closing price of Rs 1,051.70 on the National Stock Exchange.
As of 31 March 2021, Ca Rover Holdings held 11.61% stake in SBI Cards.
SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel and banking partnerships cards along with corporate cards covering all major cardholders' segments in terms of income profile and lifestyle.
On a standalone basis, SBI Cards and Payment Services' net profit soared 109.95% to Rs 175.42 crore on 1.68% decline in total income to Rs 2,468.14 crore in Q4 FY21 over Q4 FY20.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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