Bain Capital to sell its stake in India's Axis Bank
By P.R. Venkat
Private equity firm Bain Capital plans to sell its stake worth $429.0 million in India's Axis Bank (IN:532215).
The company plans to sell 33.37 million shares via a block trade on Tuesday, according to a term sheet seen by The Wall Street Journal.
Bain invested in the private lender in 2017. The sale would see the private equity firm exiting its investment in Axis Bank.
Axis Bank is the third largest private sector bank in India, with over 5,000 domestic branches. It also has eight international offices, including branches in Singapore and Dubai and representative offices in the U.K. and Bangladesh.
Bank of America Securities is acting as the sole book runner on the deal, the term sheet showed.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
04-08-24 2227ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits