Axis Bank trades down after block deal with Bain Capital
The Axis Bank block deal is estimated to be worth Rs 3700 crore. Bain Capital entities sold their 1.0 per cent stake in the bank (3.09 crore shares).
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Axis Bank Share Price: Axis Bank shares started their session on BSE on a lower note on Wednesday (December 13, 2023) after the block deal worth Rs 3,700 crore with Bain Capital.
The Axis Bank stock was trading down by 1.28 per cent, or Rs 14.50, at Rs 1116.60, at 12:51 am on Wednesday.
The stock that closed at Rs 1131.10 on Tuesday started the trading session on Wednesday at Rs 1114.05 before reaching the day's high of Rs 1150.00.
It nearly touched the 52-week high of Rs 1151.50 achieved on December 5 this year.
What is Axis Bank block deal?
- The Axis Bank block deal is estimated to be Rs 3,700 crore.
- Bain Capital entities sold their 1.0 per cent stake in the bank (3.04 crore shares).
- The floor price for the block deal was Rs 1,109/share (1.9 per cent discount to CMP).
- There will be a lock-in period of 90 days for sellers.
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