California pension fund exits Axis Bank

MUMBAI: California Public Employees Retirement System (CalPERS) has sold its 0.94% stake in private sector Axis Bank to Mauritius based foreign institutional investor Genesis Indian Investment Co for Rs 869 crore in a bulk deal executed on the Bombay Stock Exchange ( BSE).

CalPERS one of the largest pension funds in the world, with $279 billion of assets under management sold 2.24 crore shares in the bank at Rs 387.5 apiece. CalPERS owned 0.94% stake in the Mumbai based lender.

Axis Bank shares ended at Rs 375.25 apiece down 2.80% even as the 30-share BSE Sensex ended at 23,002 points down 0.66%.