ReutersBain Capital is offering shares in the price range of Rs 964-977.70 per unit, a discount of up to 1.4% to the current market price. Shares of the private sector lender ended nearly 1% down on Wednesday at Rs 977.30 on the National Stock Exchange.
The private equity firm plans to sell 22.5 million shares or 0.7% stake in the lender, reports said. As of March-end, Bain Capital, through its affiliate BC Asia Investment VII, held 1.3% stake in the private sector lender.
In October 2022, Bain Capital had sold 1.2% stake in Axis Bank. Since the sale in October, shares of the bank have risen more than 35%.
In November 2017, the Boston-headquartered private equity firm led a consortium that invested $1.8 billion in the private lender to help shore up the bank’s capital base. The consortium had invested capital at Rs 525 per share. Bain Capital invested around Rs 6,854 crore during the private sector bank's fundraising program.
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