Center to sell SUUTI stake in Axis Bank via OFS detail is here – Business News India
read on appThe central government is going to exit the private sector Axis Bank. The government plans to sell its 1.55 percent stake in the bank i.e. 4.65 crore shares. This
information has been given to the stock exchanges. The Specified Undertaking of the Unit Trust of India (SUUTI) under the central government plans to sell 1.55 per cent stake in
Axis Bank. With this sale, the government will withdraw its entire stake from the private sector lender. SUUTI held 4,65,34,903 shares holding 1.55 per cent stake in Axis Bank as
of September 2022. The government expects to get around Rs 4,000 crore from the share sale at the current market price. Read this-This company will give dividend of ₹ 850, the
share price rose by Rs 1735 due to the news
Shares of Axis Bank on Wednesday closed 0.17 per cent higher at Rs 874.35 against the previous close on BSE. The government
had in May last year sold its 1.95 per cent stake in Axis Bank through SUUTI for around Rs 4,000 crore.