California Public Employees Retirement System (CalPERS) has sold its 0.94% stake in Axis Bank to Mauritius based foreign institutional investor Genesis Indian Investment Co. for Rs 869 crore in a bulk deal. 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.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.
