InvestorQ : With the tepid response from retail investors, what happens to the Axis Bank OFS issue now?
Rashi Mehra made post

With the tepid response from retail investors, what happens to the Axis Bank OFS issue now?

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Archita Jajjoo answered.
4 weeks ago
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Thursday retail quota response was in stark contrast to the institutional response to the Axis bank OFS issue on Wednesday. After a 2.8 times response to the institutional quota on Wednesday, the retail response to the Axis bank OFS on Thursday was totally tepid. Against the 5.8 million shares allotted for retail quota, there were bids received for only 1.66 million shares, or just 28% fill in retail quote.

This will not in any way impact the overall subscription and the government divestment plan. That is because, the unsubscribed portion of the OFS retail quota will be allotted to non-retail investors, who had anyways bid in excess. Effectively, through SUUTI, centre has sold 1.95% stake in Axis Bank, bringing down holdings in Axis Bank to 1.5%.

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