The UPA II Govt on Friday March 21,2014 sold its 9 % stake in Axis Bank,
the third largest private sector bank in the country, through a block
deal in a price range of Rs.1,313-1,341 per share.
This sale is expected to garner around Rs.5,500 crore with a sale of
4.20 crore shares held by the government through Specified Undertaking
of UTI (SUUTI) in Axis Bank.
SUUTI, formed in 2003, is an offshoot of erstwhile UTI, held 20.72 % in Axis Bank.
Following Friday’s deal, SUUTI’s holding will come
down to 11.72%in Axis Bank.
Shares of Axis Bank closed 2.69 % higher at Rs.1,393.40 on the BSE.
No comments:
Post a Comment