Carlyle has launched a block deal to sell around 4% stake in the credit card firm SBI Cards & Payment Services and raise around $513 mn. The offer price range is Rs 981.80/share to Rs 1,022.10/share (the upper end reflecting a 3.94% discount to the closing price of Rs 1,022.1 on 16th March), as per the term sheet. BofA Securities is the sole book-runner to the transaction.