The offer price range is ₹964-₹977.70 per share, which translates into a discount of up to 1.4% to the last closing price of ₹ 977.7.
According to the deal term sheet, Bain Capital will sell 22.5 million shares, and this will result in the private equity firm making ₹2,163 core- ₹2,188 crore ($264 million to $267 million).
Bain Capital entity BC Asia Investments VII held 1.3% stake in Axis Bank as of March 31, 2023.
Spokespersons of Bain Capital and Goldman Sachs could not be reached for comment immediately.
In November 2017, a consortium led by Boston-based Bain Capital injected $1.8 billion (approximately ₹11,626 crore) of “confidence capital” into Axis Bank, aiming to strengthen the bank’s capital position following a series of underwhelming financial results.
The equity shares were issued at a price of ₹525 per share, while the convertible warrants were issued at ₹565 per share. As part of the bank’s fundraising programme, Bain Capital invested around ₹6,854 crore in the private sector bank.
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