Bain Capital, a major US private equity firm, has sold 0.54% stake in private equity lender Axis Bank for Rs.1,487 crore through open market transactions.
According to a number of existing deals with BSE, Private Equity has sold 1,66,80,000 shares, representing a 0.54 percent stake in the company.
Shares were taken off at an average price of Rs.891.38 per piece, bringing the transaction size to Rs.1,486.82 crore.
As of September 2022, Bain Capital holds a 4.24% stake in lenders through BC Asia Investments VII, BC Asia Investments III and Integral Investments South Asia IV, based on stake information with BSE.
In November 2017, the Board of Directors of Axis Bank approved a funding of Rs.11,626 crore from a group of retail investors. This includes the subsidiary of Bain Capital Private Equity and the bank sponsor Life Insurance Corporation of India (LIC).
Bain Capital-related entities have offered to invest Rs. 6,854 crore in private lenders.
On Tuesday, Axis Bank shares closed down 3.76 percent at Rs.871.75 on BSE.
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