HSBC to sell stakes in India's Axis Bank, Yes Bank

HSBC-INDIA-STAKE-AXIS-YES-BANKS:HSBC to sell stakes in India's Axis Bank, Yes Bank

 

REUTERS - 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 24.5 billion rupees.

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

Goldman Sachs and HSBC are joint bookrunners for the sales.