"The bank has signed an agreement for sale of 1.4 crore equity shares (10 per cent of total outstanding shares) of Experian Credit Information Company of India (Experian India) at Rs 45.70 per share resulting in a total cash consideration of Rs 64 crore (transaction)," Axis Bank said in a regulatory filing.
Axis Bank said the completion of transaction is subject to regulatory approvals, including from the Reserve Bank.
The bank said it is diluting its stake in the company as part of divestment, which is expected to get completed by April 2017.
In fiscal ended March 2016, Experian's income stood at Rs 28.7 crore, while total assets were Rs 61.3 crore.
Stock of Axis Bank today closed 0.88 per cent down at Rs 492.60 on BSE.
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