American private equity major Bain Capital on Tuesday sold 1,66,80,000 shares of Axis Bank, representing 0.5% stake through a bulk deal on the BSE.
According to the data on the exchange, the shares were sold at Rs 891.38 each, higher than the floor price of Rs 888 set by the PE firm. The trade exerted selling pressure on the stock, which ended nearly 4% down at Rs 871.75.
Bain Capital was to sell 1.24% stake in the private sector lender, according to reports. The PE firm held 4.2% stake through three affiliates as on September 30.
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