According to Bloomberg, the shares of Axis Bank fell more than 4% after a 0.5% stake in the bank changed hands in two tranches in a mega-deal. However, buyers and sellers do not know.

About 15.3 million shares, or 0.5%, of the bank, changed hands in two transactions.

During the session, the stock fell to a low of Rs 706, down as much as 4.24%, its biggest drop since May 6. The stock was trading at Rs 716 on the BSE at 2.55 pm, down 3% from its previous close. The stock fell for a sixth straight session.

Axis Bank in March announced plans to acquire Citibank’s consumer business for Rs 12,325 crore. Earlier this month, the Competition Commission of India (CCI) approved the acquisition of Axis Bank.

The acquisition includes Citi’s credit card, unsecured and secured loan portfolio, wealth management, private banking and retail deposit businesses. The transaction also includes the sale of Citi Financial (India) Ltd.

Axis Bank will acquire Citibank India’s 1.2 million retail customers, including 40,000 wealth and private banking customers, which will help it strengthen its presence in the highly competitive urban retail market.