Tuesday, November 29, 2022

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Govt gets Rs 3,839 cr from stake 1.5% sale of Axis Bank

New Delhi: Through the sale of its 1.5% interest in Axis Bank, held through SUUTI, the government has made around Rs 3,839 crore.

Last Monday, the government sold a 1.5% interest in Axis Bank through the Unit Trust of India’s Specified Undertaking (SUUTI). The offer’s floor price for equity shares was Rs. 830.63.

“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.

Axis Bank’s stock dropped 0.44 percent from the previous closing on the BSE to settle at Rs. 854.65.

The disinvestment proceeds collected thus far this year have climbed to Rs 28,383 crore with the sale of the SUUTI share. The current fiscal year’s (April through March) disinvestment budget aim is set at Rs 65,000 crore.

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