The deal is the fourth largest by a private equity firm in the country this year according to Reuters, which said Carlyle sold 57 million HDFC shares at INR761.42 each.
Carlyle nearly doubled the value of its initial investment in HDFC after selling a quarter of its stake in February for around $270m, having bought in for $650m in 2007.
The latest deal is at a discount of about 3.5 per cent from the company’s closing share price on Thursday.
Citigroup sold its 9.9 per cent stake in the company for $1.9bn earlier this year.
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