New Delhi, Jun 15 (PTI) US-based private equity major Bain Capital on Thursday offloaded a 0.7 per cent stake in private sector lender Axis Bank for Rs 2,178 crore through open market transactions.

Bain Capital through its affiliates -- BC Asia Investments III, BC Asia Investments VII and Integral Investments South Asia IV -- sold the shares of Axis Bank in three tranches.

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Bajaj Allianz Life Insurance Company, ICICI Prudential Mutual Fund, Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, Societe Generale, the Sultanate of Oman Ministry of Defence Pension Fund, Bay Pond Partners LP, and among others were the buyers of the shares.

BC Asia Investments III, BC Asia Investments VII and Integral Investments South Asia IV offloaded a total of 2,25,00,001 shares, amounting to a 0.7 per cent stake in Axis Bank, as per the block deal data available with the National Stock Exchange (NSE).

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The shares were disposed of at an average price of Rs 968 apiece, taking the combined transaction value to Rs 2,178 crore.

As of the March quarter, Bain Capital entity BC Asia Investments VII held a 1.30 per cent stake in Axis Bank, shareholding data showed with the bourse.

Last year in November, Bain Capital divested a 0.54 per cent stake in Axis Bank for Rs 1,487 crore.

In November 2017, Axis Bank's board approved a fundraising of Rs 11,626 crore from a set of marquee investors, including entities affiliated with Bain Capital Private Equity and the bank's promoter Life Insurance Corporation of India (LIC).

On Thursday, shares of Axis Bank gained 0.09 per cent to close at Rs 978.55 per piece on the NSE.

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