Bain Capital sells 0.7% stake in Axis Bank for Rs 2,178 crore, 50 FPIs lap up shares

Private equity firm Bain Capital has sold a partial stake in Axis Bank, India’s third largest private lender, amounting to 0.7% of the lender. In total, the shares sold amounted to Rs 2,178 crore, marking the second time in less than a year that Bain Capital reduced its stake in the bank. Following the sale, Bain now holds around 1.3% stake in the bank’s capital. Morgan Stanley, Goldman Sachs, Kuwait Investment Authority, Hartford and Nomura were among the domestic and foreign institutions that bought stakes as part of the block deal.

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