HSBC to sell stakes in Axis Bank, Yes Bank

Source : REUTERS
Last Updated: Wed, Jun 27, 2012 13:01 hrs
HSBC logos are displayed inside an office tower in Hong Kong

HSBC will sell its entire stakes in Indian lenders Axis Bank and Yes Bank , IFR reported on Wednesday, in a deal through its Mauritius subsidiary that will raise up to 24.5 billion rupees.

HSBC will sell 19.6 million shares in Axis Bank for 950.9 to 970.9 rupees per share, and 16.8 million shares in Yes Bank for 381.1 to 324.8 rupees per share, IFR reported.

Goldman Sachs and HSBC are joint bookrunners for the sales.

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