Axis Bank share price: Bain Capital to sell 1.08% stake in Axis Bank on Tuesday

Bain Capital will sell 33.37 million shares of Axis Bank worth Rs 3,575 crore in an open market transaction on Tuesday, according to a term sheet issued by BofA Securities.

The offer price was fixed in the range of Rs 1,071.0 to Rs 1,076.05 per share, which is a discount of 0.0% to 0.47% to Monday’s closing price of Rs 1,076.05 per share. BofA Securities India is the sole bookrunner for the transaction.

Integral Investments South Asia IV plans to sell 8.35 million shares, while BC Asia Investments VII and BC Asia Investments III plan to sell 14.5 million shares and 10.5 million shares respectively.

Bain Capital acquired a stake in Axis Bank in November 2017. The private equity firm had previously sold 1.1 per cent stake in Axis Bank for about Rs 3,700 crore through an open market deal in December.

In June, Bain Capital sold a 0.7% stake in Axis Bank for an average price of Rs 968 per share, or a total of Rs 217.8 billion. Prior to this, the private equity fund sold a 1.2% stake in October 2022.

In the last five years, Axis Bank share price has risen 43 per cent compared to a 93 per cent surge in the benchmark Sensex and a 64 per cent rise in the BSE Bankex index.