NewsReach.in
Business News

SUUTI to sell up to 3% stake in Axis Bank

Mumbai, Feb 11 (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.

–IANS

rrb-rv/vd

About the author: IANS
Note : All views expressed, and statements made, therein are those of the author solely and NewsReach/Vyomeen Media Pvt. Ltd. does not endorse and will not be responsible and/or liable for the same as well as for any contents of this article in any manner whatsoever, including without limitation for the veracity as well as verification of any of the above.

Related posts

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet