LONDON--HSBC Holdings PLC (HSB.LN), a banking group, Thursday said its HSBC Iris Investments (Mauritius) Ltd unit sold its stakes in two non-core investments in India, Axis Bank Ltd and Yes Bank Ltd, for a combined 24.3 billion rupees, or about 425 million dollars.

MAIN FACTS:

-Proceeds comprise INR18.8 billion for the 4.73% stake in Axis Bank and INR5.5 billion for the 4.74% stake in Yes Bank.

-Shares at 1005 GMT down 14 pence, or 2.5%, at 559 pence valuing the company at GBP101.7 billion.

-Write to Ed Ballard at ed.ballard@dowjones.com