Government mops up Rs 3,839 cr from Axis Bank stake sale

PTI

New Delhi, November 16

The government has garnered about Rs 3,839 crore by selling its 1.5% stake in Axis Bank, held through SUUTI. Last week, the government sold a 1.5% stake in Axis Bank through the Specified Undertaking of the Unit Trust of India (SUUTI).

The floor price for the offer was Rs 830.63 per equity share. “Government has received about Rs 3,839 crore from the sale of Axis Bank shares held by SUUTI,” the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey tweeted.