Darby Among Bidders for Axis Bank PE Unit

MUMBAI (Reuters) – U.S.-based Darby Private Equity and India’s IL&FS Investment Managers (ILFS.BO) are among six bidders for the private equity arm of Axis Bank (AXBK.BO), the Economic Times reported on Tuesday.The bidders include Aditya Birla Private Equity and Shapoorji Pallonji Group, both based in India, the newspaper said, citing two unidentified executives involved in the process.

The last date for receiving the bids was May 15, it said.

The paper said the mid-sized Axis Bank decided to exit the private equity business following a strategic review after Shikha Sharma took over as the bank chief in June last year.

Axis Bank officials declined to comment, the paper said.

(Writing by Janaki Krishnan; Editing by Ranjit Gangadharan)