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The US-based private investment firm Bain Capital is set to sell a stake worth $410 million in Axis Bank via block deals on Tuesday.
The PE firm is looking to sell 1.24 per cent stake. It currently holds a 4.24 per cent stake in Axis Bank. Bain Capital invested ₹6,854 crore in Axis Bank in 2017. The bank had issued equity shares on a preferential basis at a price of ₹525 per share and warrants convertible into equity shares at a price of ₹565 per share.
Bain is likely to offer shares at a floor price of ₹888 per share, which is a 2 per cent discount to Monday’s closing price of ₹906.
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