Bain Capital likely to sell 1.1% stake in Axis Bank for nearly Rs 3,700 cr: Report

Boston-based PE firm Bain Capital is likely to sell 1.1% stake in Axis Bank Ltd for a deal size of nearly Rs 3,700 cr, said a report on Tuesday. 

CNBC TV18 reported that 3.34 crore shares of the Mumbai-headquartered lender will see change of hands through block deal. 

The floor price might be Rs 1,109 per share, a maximum discount of 2% to Axia Bank scrip's closing price of Rs 1,131 on Tuesday, said the report.

In June, Bain sold 0.75% stake in Axis Bank for approximately Rs 2,150 crore at an offer price range of Rs 964-Rs 977.7 per share.

On Tuesday, Chrys Capital, another private equity firm, sold shares worth Rs 3,282 crore of Mankind Pharma through block deal.

The shares were offloaded by Chrys Capital through its subsidiary Beige Ltd, which sold 1.44 crore shares at price of 1,832.43 each in one deal, and pared 35 lakh shares at an average price of 1,832.3 apiece in another deal. Altogether, the UK-based firm sold 1.79 crore shares in Mankind Pharma.