The Economic Times | A Times Internet Limited product
The government on Tuesday will launch an offer for sale to divest Axis Bank stake, it holds through the Specified Undertaking of Unit Trust of India (SUUTI). The Axis Bank’s SUUTI block is valued at about Rs 5,316 crore. The government plans to sell 1.98 per cent stake in the company as base offer, with an additional 1.02 per cent set aside as greenshoe option..
The Economic Times | A Times Internet Limited product
The government on Tuesday will launch an offer for sale to divest Axis Bank stake, it holds through the Specified Undertaking of Unit Trust of India (SUUTI). The Axis Bank’s SUUTI block is valued at about Rs 5,316 crore. The government plans to sell 1.98 per cent stake in the company as base offer, with an additional 1.02 per cent set aside as greenshoe option.
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Govt likely to sell its SUUTI stake in Axis Bank in two tranches, say sources to ET NOW's Ruchi Bhatia
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The offer for sale (OFS) by Axis Bank was subscribed 3.68 times by retail investors on Wednesday. The strong response by small investors came a day after the issue got an overwhelming response from non-retail investors in the previous session. The issue received retail bids for 2.84 crore shares, which was 3.68 times the total size of 77.09 lakh shares. The portion for retail category was fixed at 10 per cent.
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Nandu Paswan worked as a collection agent with a cable operator from North Delhi. He was shocked to know that a sum of 14 crores has been transacted through the bank accounts opened in his name. He remained clueless about the transaction but Income tax department is investigating into the matter.
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