Bain Capital sells 16.7 million shares in Axis Bank for Rs 1,497 crore

Bain Capital sold nearly 16.7 million shares, equalling a 0.5 per cent stake in private sector lender Axis Bank

Private equity major Bain Capital on Tuesday sold nearly 16.7 million shares, equalling a 0.5 per cent stake in private sector lender Axis Bank.

The shares were sold at Rs 891.38 apiece for a total of Rs 1,487 crore by BC Asia Investments, according to the data provided by stock exchanges. Shares of Axis Bank last closed at Rs 871.75, down 3.8 per cent.

At the end of September 2022 quarter, BC Asia Investments held a 3.11 per cent stake in Axis Bank.