SUUTI to sell up to 3% stake in Axis Bank

Mumbai, Feb 12 (IANS): The Specified Undertaking of Unit Trust of India (SUUTI) has offered to sell up to 1.98 per cent stake in Axis Bank starting at a floor price of Rs 689.52 per share, with plans to additionally sell 1.02 per cent equity shares.

SUUTI, in a statement, said that it will sell up to 5.1 crore shares on the stock exchanges on Tuesday and Wednesday.

"The seller (SUUTI) proposes to sell up to l50,759,949 (1.98 per cent) equity shares of face value of Rs 2 each of the company (base offer size), on February 12, 2019 (T day), (for non-retail investors only) and on February 13, 209 (T+1 day) (for retail investors and non-retail investors who choose to carry forward their unallotted bids) with an option to additionally sell 26,337,187 (1.02 per cent) equity shares of the company," it said.

On Monday, shares of Axis Bank closed at Rs 710.35, lower by Rs 7.90 or 1.10 per cent from the previous close.


Top Stories

Leave a Comment

Title : SUUTI to sell up to 3% stake in Axis Bank


You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.

Security Validation

Enter the characters in the image