Synopsis
Through the two-day offer for sale (OFS), the government sold around 5.80 crore shares or 1.95 per cent stake held in Axis Bank through the Specified Undertaking of the Unit Trust of India (SUUTI) at a floor price of Rs 680 a share.
Agencies
At the cut off price of Rs 701 a share, the 1.95 per cent stake sale fetched around Rs 4,000 crore to the exchequer.
The government has raised about Rs 4,000 crore from sale of 1.95 per cent stake in Axis Bank held through SUUTI, DIPAM Secretary Tuhin Kanta Pandey said on Thursday. The OFS of Axis Bank got good response from investors with SUUTI garnering about Rs 4,000 cr (subject to reconciliation). Thanks to all for their participation, the Department of Investment and Public Asset Management (DIPAM) secretary tweeted.