Private Equity

Liquidity Events

Bain Capital sells residual 1.08% stake in Axis Bank for Rs.3,575-Cr

Business Standard  

Private Equity firm Bain Capital has sold its remaining 1.08% stake in Axis Bank. Bain Capital units BC Asia Investments and Integral Investments South Asia IV, sold a total of 33.37 million shares at INR 1,071 apiece to realize INR 3,575 crore.Among the buyers were domestic as well as foreign funds including Societe Generale, Morgan Stanley, Goldman Sachs, and ICICI Prudential Mutual Fund.Bain Capital had invested INR 6,854 crore in Axis Bank as part of an INR 11,626-crore capital raising exercise in November 2017. It had picked up the stake at around INR 525 per share. Since then, it has pared its holdings in several tranches.