Axis Bank block deal: 4.58 lakh shares change hands in multiple deals; Bain Capital likely seller

Axis Bank block deal: Axis Bank shares on Tuesday, April 9, swung between gains and losses as 4.58 lakh shares in the entity changed hands in multiple transactions via block deal in the pre-opening trade.

The US-based private equity player Bain Capital is the likely seller, intending to make a complete exit from the lender. The floor price of the deal, as per reports, was Rs 1,071–1,076.5 per share. Further, the size of the block deal was reported to be Rs 1,400 crore.

As per a Reuters report, Bain Capital first bought equity in the lender in November 2017. The private equity firm, which first purchased shares in the bank in November 2017, will exit its entire holding with Tuesday's stake sale, a source familiar with the matter told Reuters.

Earlier as per the agency's report, the PE player engaged in share sale in the lenderr worth $448 million in December and before that took to share sale in November 2022. BofA Securities India is the sole bookrunner for the deal.