SBI Life slumps 6% as Carlyle Group sells share worth Rs 2,814 crore

Shares of SBI Life Insurance fell over 6 per cent on Tuesday after PE firm Carlyle Group sold shares worth Rs 2,814 crore through block trades. Data from the NSE showed that CA Emerald Investments, the investment firm of Carlyle Group, sold 30 million shares at Rs 938 apiece. Shares closed at Rs 936, down Rs 63 or 6.3 per cent over Monday. The stake was bought in varying quantities by a bunch of institutional investors. 

The PE firm had acquired the stake in March from BNP Paribas for Rs 5,445 crore. Since them, shares had rallied more than 50 per