InvestorQ : Why is SUUTI selling shares of Axis Bank?
Katherine Gonsalves made post

Why is SUUTI selling shares of Axis Bank?

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rhea Babu answered.
4 weeks ago
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The SUUTI is the government body that holds shares of the erstwhile beleaguered US-64. To enhance divestment revenues, the government plans to offload 3.60 crore shares of Axis Bank at a floor price of Rs.680 per share at a value of Rs.2,448 crore. The sale will be done via OFS on May 19/20. Government may opt to sell up to 5.8 crore shares based on demand.

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