Bain Capital on Thursday sold over 2.25 crore shares of Axis Bank constituting 0.73 per cent of the private lender’s equity at an average price of Rs 968 per share.
The sale yielded Rs 2,178 crore to the private equity firm. Data available from the stock exchanges showed that while Integral Investments South Asia IV sold 56,29,412 shares, BC Asia Investments III Ltd offloaded 70,58,824 shares while BC Asia Investments VII sold 98,11,765 shares.
These shares were picked up by various entities among which included Bajaj Allianz Life Insurance Company, Amazon Market Neutral Fund, Goldman Sachs, ICICI Prudential Mutual Fund, Kuwait Investment Authority, and Morgan Stanley.
Shares of the private sector lender ended marginally lower at 976.55 on the BSE, a drop of 0.12 per cent over the last close.
In November last year, Bain Capital had divested 0.54 per cent stake in Axis Bank for Rs 1,487 crore through open market transactions.
In November 2017 the Axis Bank board had approved a fund-raising plan of Rs 11,626 crore from marquee investors, including entities affiliated with Bain Capital Private Equity and LIC.
