Feb 24, 2012 10:51 AM IST | Source: Reuters

Citi raises $1.95 bn from HDFC stake: Sources

Citigroup Inc has raised USD 1.95 billion by selling its entire stake in Housing Development Finance Corp at Rs 657.50 a share, three sources with direct knowledge of the deal said on Friday.

Citi raises $1.95 bn from HDFC stake: Sources

Citigroup Inc has raised USD 1.95 billion by selling its entire stake in Housing Development Finance Corp at Rs 657.50 a share, three sources with direct knowledge of the deal said on Friday.

The transaction is the largest share sale this year in India and comes close on the heels of investors such as Carlyle paring their stakes in Indian companies after a surge in share prices in 2012.

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