Carlyle selling HDFC shares to raise up to $861mln-term sheet

MUMBAI, Oct 4 (Reuters) - U.S. private-equity firm Carlyle Group is selling its 3.7 percent stake in India's top mortgage lender Housing Development Finance Corp Ltd in a deal to raise as much as $861 million, according to a term sheet seen by Reuters on Thursday.

Carlyle is selling about 57 million shares of HDFC in the price band of 760 rupees to 781.25 rupees a share, a discount of 1-3.7 percent from Thursday's closing price of 789.05 rupees, the term sheet said.

Citigroup is the sole bookrunner for the deal.

(Reporting by Abhishek Vishnoi, Indulal P.M. and Sumeet Chatterjee; Editing by Anupama Dwivedi)