Bain Capital to sell its stake in Axis Bank via block deal: Reports

According to the media reports, Bain Capital has likely sold its stake in Axis Bank in a block deal on Thursday. The Boston-based firm Bain was likely to sell its 0.75% stake in the private lender at a slight discount from the Wednesday closing price. 

The offer price range was set at Rs 964 - Rs 977.70 per share, which translates into a discount of up to 1.4% to the last closing price of Rs 977.70, the report added.

Bain Capital entity BC Asia Investments VII held a 1.3% stake in Axis Bank as of March 31, 2023.

Bain Capital would sell 22.5 million shares which will likely result in the private equity firm making Rs 2,163 core - Rs 2,188 crore ($264 million to $267 million), as per the deal term sheet.

Source: Media reports