HSBC to sell stakes in Axis Bank, Yes Bank

The bank will raise up to Rs 2,450 from the stake sale

HSBC will sell its entire stakes in Indian lenders Axis Bank and Yes Bank , IFR reported on Wednesday, in a deal through its Mauritius subsidiary that will raise up to Rs 2,450 crore.

HSBC will sell 19.6 million shares in Axis Bank for Rs 950.9 to Rs 970.9 per share, and 16.8 million shares in Yes Bank for Rs 318.1 to 324.8 per share, IFR reported.

Goldman Sachs and HSBC are joint bookrunners for the sales.