India's SBI Cards may produce country's biggest PE exit with IPO

India's SBI Cards may produce country's biggest PE exit with IPO

FILE PHOTO: The logo of the Carlyle Group is displayed at the company's office in Tokyo, Japan October 17, 2018. REUTERS/Issei Kato

Private equity (PE) firm Carlyle Group’s partial stake sale in SBI Cards and Payment Services Ltd, the credit card unit of the country’s largest lender, is set to become the largest ever exit of a PE firm through an initial public offering (IPO) in India, two people aware of the matter said, requesting anonymity.