CalPERS sells stake worth Rs 869 cr in Axis Bank

US-based pension fund manager California Public Employees' Retirement System (CalPERS) today offloaded stake worth Rs 869 crore in private-sector lender Axis Bank, through an open market transaction.

According to bulk deals data the pension fund manager of public sector employees sold 22,426,243 shares or 0.94 per cent stake in Axis Bank for Rs 869.02 crore.

The shares were sold at an average price of Rs 387.5.

The shares were bought by Genesis Indian Investment Company.

CalPERS is the US largest pension fund and serves public servants of Californa. Currently, it has over 1.7 million members.