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Jul 12, 2012, 08.23 AM IST
HSBC Bank Mauritius is planning to raise around USD 400 million via stake sales in Axis Bank and Yes Bank. These are going to be secondary market sales and it will be a block deal which will be executed tomorrow, reports CNBC-TV18’s Nimesh Shah quoting sources.
HSBC Bank Mauritius is planning to raise around USD 400 million via stake sales in Axis Bank and Yes Bank. These are going to be secondary market sales and it will be a block deal which will be executed tomorrow, reports CNBC-TV18's Nimesh Shah quoting sources.
The book is already launched to the investor. As far as Axis Bank is concerned, the entire book is of 1.9 crore shares and the price band is close to a 3-5% discount to the current price. The discount for Yes Bank is also similar. Close to 1.6 crore shares of Yes Bank is on the block. Sources claim, both the block deals are going to HSBC Mauritius.
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