Bain Capital intends to divest a stake valued at $429 million in Axis Bank, an Indian private lender.
Having initially acquired shares in November 2017, Bain Capital plans to exit its entire holding through the upcoming stake sale.
Approximately 33.40 million shares of Axis Bank, equivalent to over 1% stake, will be sold by Bain Capital at an offer price ranging from 1,071 rupees to 1,076.05 rupees per share, as indicated in the term sheet.
The lower end of the offer price represents a 0.5% discount compared to the bank’s closing price on the preceding Monday.
This move follows Bain Capital’s prior sale of shares totaling $448 million in December, subsequent to partial divestment in November 2022.
BofA Securities India serves as the exclusive bookrunner for the transaction.
Despite Axis Bank’s shares having more than doubled since Bain Capital’s initial investment, they have experienced a 2.4% decline year-to-date.
CNBC-TV18 was the first to report this development on Monday.
Bain Capital Plans $429 Million Stake Sale in Indian Lender Axis Bank
I’m Abhishek Sharma, an Advocate based in Delhi, entrepreneur, investor, and founder of BigBreakingWire. I am an enrolled Advocate with a strong interest in entrepreneurship, media, and technology. I founded BigBreakingWire, a digital news platform covering breaking news, business, financial markets, companies, and important developments in India and around the world. I also have a software company and take an active interest in technology, software, AI, digital products, and new business ideas. As an investor, I’m interested in discovering and investing in promising businesses and startups. I look for good ideas, strong founders, practical business models, and opportunities with long-term potential. I enjoy building businesses, learning about new industries, and connecting with people who are working on interesting ideas and opportunities. Advocate | Entrepreneur | Investor | Founder & Editor-in-Chief, BigBreakingWire
Disclaimer: BigBreakingWire provides news and informational content for general educational purposes only. The information presented on this website does not constitute financial, investment, tax, or legal advice. Readers should consult qualified professionals before making any financial decisions. BigBreakingWire, its authors, and editors are not responsible for any financial losses or damages arising from the use of information on this site.
