Bain Capital sells Axis Bank stake, raises $429 million, source says

By Thomson Reuters Apr 9, 2024 | 2:39 AM

SYDNEY (Reuters) – Bain Capital has sold its Axis Bank stake at 1,071 rupees ($12.87) per share to raise $429 million, according to a source with direct knowledge of the matter.

The source could not be identified due to the confidential nature of the information.

Bain Capital and Axis Bank did not immediately respond to a request for comment.

($1 = 83.1850 Indian rupees)

(Reporting by Scott Murdoch in Sydney and Kane Wu in Hong Kong; Editing by Jacqueline Wong)