Institutional investors show huge interest in Axis Bank OFS

11 Nov 2022 , 08:26 AM

An enormous amount of interest was shown in the government’s offer to sell shares of Axis Bank, which was made available to institutional investors on Thursday.

46.5 million shares of Axis Bank were put on sale by Government. Total bids received were of 48.54 million shares.

Indicative bids were made at a price of Rs836.04 compared to the floor price of Rs830.63.

The Specified Undertaking of the Unit Trust of India (SUUTI), which the government owns, will be selling its whole 1.55% stake in the lender through OFS.

On Friday, the OFS will be accessible to retail investors. 46,53,491 shares out of the total 4,65,34,903 shares have been designated for the retail investor category.

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