Bain affiliates BC Asia Investments VII, BC Asia Investments III and Integral Investments South Asia IV were offering 33.4 million shares, or a 1.1% stake in Axis Bank, at $13.44 per share, the term sheet showed.
The extent of Bain’s total stakeholding in India’s third-largest private lender was not immediately clear.
The selling price was at a 1% discount to the bank’s closing price on Tuesday.
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Shares of Axis Bank have more than doubled since Bain first bought a stake in 2017, outperforming the Nifty Bank index over that period.
Axis Bank settled 1.4% lower on Wednesday. Its shares have risen 19.5% this year.
Source: Business Standard
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