Bain Capital offloads entire stake in Axis Bank for Rs 3,600 crore

Bain Capital has divested its entire stake in Axis Bank, fetching a substantial sum of around Rs 3,600 crore ($429 million), as per exchange data.

transaction saw Bain Capital selling its stake at Rs 1,071 per share, with Morgan Stanley Asia Singapore, BofA Securities Europe, and Societe Generale collectively acquiring a 0.4 per cent stake in Axis Bank through this sale.

table buyers in transaction included prominent financial institutions such as Goldman Sachs, mura, rges, ICICI Prudential, and Mirae Asset, reflecting investor confidence in private lender.

block tre involved sale of 33.4 million shares, as indicated by a term sheet reviewed by Reuters. Despite being at lower end of price range offered to prospective investors (Rs 1,071 to 1,076.05), final price represented a 0.5 per cent discount to stock's closing price on Monday.

move signifies Bain Capital's complete exit from its equity stake in Axis Bank, marking culmination of its investment journey in private lender since its initial acquisition in 2017.

(With Reuters inputs)