Axis Bank is raising up to Rs. 11,826 crore ($1.8 billion) through a private placement of shares from a clutch of investors led by private equity fund Bain Capital..Bain Capital is picking up a 4% stake for Rs. 5,179 crore and will have the right to nominate a director on bank’s board. Other investors are American asset manager Capital Group and Life Insurance Corporation of India (LIC). The fund-raising will see the bank dilute a stake of around 9%, reported Mint..Shardul Amarchand Mangaldas is acting for Axis Bank and the team is led by Executive Chairman Shardul Shroff along with Partners Raghubir Menon, Abhishek Guha and Yogesh Chande, Senior Associates Ankit Kejriwal and Anwesha Haldar and Associates Kanwardeep Kapany, Gaurav Malhotra and Keegan Pavrey..AZB & Partners and Kirkland & Ellis LLP are acting for Bain Capital. The AZB team is led by Partners Anil Kasturi and Nandita Govind along with Senior Associates Ashish Pareek, Anisha Shridhar and Jaishree Tolani and Associates Ankit Bhasin and Shreya Basu..The Kirkland team is headed by Partner Srinivas S. Kaushik..This is the country’s largest private equity transaction to help shore up the lender’s capital base after a string of disappointing earnings, reported ET.
Axis Bank is raising up to Rs. 11,826 crore ($1.8 billion) through a private placement of shares from a clutch of investors led by private equity fund Bain Capital..Bain Capital is picking up a 4% stake for Rs. 5,179 crore and will have the right to nominate a director on bank’s board. Other investors are American asset manager Capital Group and Life Insurance Corporation of India (LIC). The fund-raising will see the bank dilute a stake of around 9%, reported Mint..Shardul Amarchand Mangaldas is acting for Axis Bank and the team is led by Executive Chairman Shardul Shroff along with Partners Raghubir Menon, Abhishek Guha and Yogesh Chande, Senior Associates Ankit Kejriwal and Anwesha Haldar and Associates Kanwardeep Kapany, Gaurav Malhotra and Keegan Pavrey..AZB & Partners and Kirkland & Ellis LLP are acting for Bain Capital. The AZB team is led by Partners Anil Kasturi and Nandita Govind along with Senior Associates Ashish Pareek, Anisha Shridhar and Jaishree Tolani and Associates Ankit Bhasin and Shreya Basu..The Kirkland team is headed by Partner Srinivas S. Kaushik..This is the country’s largest private equity transaction to help shore up the lender’s capital base after a string of disappointing earnings, reported ET.
