Bain Capital likely to sell $431 million worth stake in Axis Bank via block deal: Report
Bain Capital is offering Axis Bank shares for Rs 1,071-Rs 1,076.05 a share, and it seeks to raise $431 million through the block trade.
MUMBAI - Private equity firm is likely to sell 33.4 million shares of through a block deal on Tuesday, according to reports.Bain Capital is offering Axis Bank shares for Rs 1,071-Rs 1,076.05 a share, and it seeks to raise $431 million through the block trade.
On Monday, shares of the private sector lender ended 1.7% higher at Rs 1,077 on the National Stock Exchange.
Through this sale, Bain Capital will exit the lender after more than six years of its investment in Axis Bank.
In December last year, the US private equity major had sold 1.1% stake in Axis Bank for over Rs 3,700 crore.
In June last year, it had sold a 0.7% stake in Axis Bank at an average price of Rs 968 apiece, aggregating upto Rs 2,178 crore. Prior to this, the private equity firm had sold a 1.2% stake in October 2022. In the last one year, Axis Bank shares have given over 26% returns to investors.
Source: Stocks-Markets-Economic Times
