Bain Affiliates Sell 33.4 Million Shares in Axis Bank, India

Summary

  • Bain affiliates BC Asia Investments VII, BC Asia Investments III, and Integral Investments South Asia IV have put 33.4 million shares of Axis Bank on sale, which is equivalent to 1.1% of the bank’s stake.
  • Major financial players such as Societe Generale, Goldman Sachs, UBS, and Morgan Stanley have shown interest in these Axis Bank shares.
  • Bain began investing in Axis Bank in November 2017, with several sales of shares through block deals over the years.
  • Since Bain’s initial investment, Axis Bank shares have more than doubled in value, outperforming the Nifty Bank index during this period.

VII

BC Asia Investments VII, BC Asia Investments III, and Integral Investments South Asia IV, all affiliates of Bain, have put up for sale 33.4 million shares of Axis Bank, representing a 1.1% stake. A single share is valued at 1,119.70 rupees, according to the term sheet.

Transaction Details

The financial giants Societe Generale, Goldman Sachs, UBS, and Morgan Stanley have emerged as the prospective purchasers of the Axis Bank shares as Bain made the decision to sell, as indicated by the exchange data. The shares were traded at a negligible 1% discount compared to the bank’s closing price the previous day.

Bain’s History with Axis Bank

Bain began its association with Axis Bank in November 2017 with a 68.54 billion rupee investment. Since then, several chunks of shares have been sold off via block deals. Most recently in June of this year, Bain sold off a 0.7% stake, a continuation of a trend initiated in November 2022.

Axis Bank Stock Performance

Axis Bank shares have displayed significant growth, more than doubling since Bain’s initial investment in 2017, surpassing the Nifty Bank index over the same duration. Despite closing 1.4% lower on a recent Wednesday, the bank’s shares have seen a 19.5% rise this year.

The offloading of shares by major investor Bain could potentially impact forex trading dynamics while further catalyzing the performance of Axis Bank within the financial markets. It certainly emphasizes the value and potential of Axis Bank shares on the trading floor.

PIP Penguin
Logo