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India's HDFC shares fall; Carlyle selling 3.7 pct stake

MUMBAI, Oct 5 (Reuters) - India's top mortgage lender Housing Development Finance Corp fell 1.7 percent in pre-open trade as U.S. private equity firm Carlyle Group is set to sell a 3.7 percent stake to raise as much as $861 million, according to a term sheet seen by Reuters.

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

(Reporting by Rafael Nam; Editing by Prateek Chatterjee)

((rafael.nam@thomsonreuters.com)(+91-22)(6180-7425)(Reuters

Messaging: rafael.nam.thomsonreuters.com@reuters.net))

Keywords: HDFC SHARES/