Axis Bank witnessed a significant trade on June 21, with a 0.55 percent equity stake being sold for Rs 2,088.2 crore, according to CNBC-TV18. Around 1.7 crore shares were traded at Rs 1,226 per share. The identities of the buyers and sellers were not immediately disclosed.
In the afternoon trade, Axis Bank’s stock was down about half a percent, trading at Rs 1,232.5, reflecting a similar decline in the banking index. Over the past year, Axis Bank’s share price has increased by over 27 percent, slightly outperforming the Nifty’s 25 percent gain.
In April, private equity firm Bain Capital exited its investment in Axis Bank, selling its remaining 1 percent stake for Rs 3,574 crore. Bain Capital had initially invested Rs 6,854 crore in the bank in November 2017.
Additionally, earlier this week, Axis Bank increased its shareholding in Max Life Insurance from 19.02 percent to 19.99 percent, acquiring the additional stake for Rs 336 crore. This move was part of a deal established in 2021, with Axis Bank and its subsidiaries – Axis Capital Ltd and Axis Securities Ltd – being permitted by the Insurance Regulatory and Development Authority of India (IRDAI) to collectively own about 20 percent in Max Life Insurance.
