EuroPacific sells 0.8% stake in Axis Bank for Rs 1,062 crore

MUMBAI: EuroPacific Growth Fund today offloaded over 1.93 crore shares of private sector lender Axis Bank for an estimated Rs 1,062 crore through open market transaction.

The foreign fund sold a total of 1,93,06,020 shares, amounting to 0.81 per cent stake of Axis Bank, as per the information available with the stock exchanges.

The shares were sold on an average price of Rs 550 valuing the transaction at Rs 1,061.83 crore, the data showed.

Meanwhile, Goldman Sachs ( Singapore) Pte picked up over 1.89 crore shares of the bank for Rs 1,042.25 crore.

EuroPacific Growth Fund held 4.39 per cent stake in Axis Bank at the end of March quarter, while that of Goldman Sachs stood at 1.18 per cent.

During January-March quarter, Axis Bank reported an 18 percent increase in net profit at Rs 2,181 crore.

Total income of the country's third largest private sector lender increased to Rs 12,384.39 crore from Rs 10,178.63 crore.

Shares of Axis Bank today closed at Rs 569.70 on the BSE, down 0.20 per cent from the previous close.