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Axis Bank to sell 10% stake in credit information company

Axis Bank Ltd. agreed to sell a 10% stake in Experian Credit Information Co. of India Ltd. for 640 million rupees in cash.

The bank said March 31 that it plans to sell 14 million shares of Experian Credit Information for 45.7 rupees per share to GUS Holdings B.V.

The transaction is expected to be completed in June and is subject to regulatory approval.

As of April 3, US$1 was equivalent to 64.97 Indian rupees.