Bain Capital plans to sell stake worth $267 million in India’s Axis Bank – report
10:55 am Wednesday, June 14th, 2023
BENGALURU (Reuters) – U.S. private equity firm Bain Capital is looking to sell a 0.7% stake in India’s Axis Bank worth as much as $267 million, CNBC-TV18 reported on Wednesday, citing sources.
The stake sale would likely be at an offer price range of 964.00 rupees to 977.70 rupees per share, the report added.
Bain Capital and Axis Bank did not immediately respond to Reuters requests for comment.
Bain Capital aims to divest a portion of its total 1.3% holding in Axis Bank through a block deal, CNBC-TV18 said.
(Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)
