From sale of 1.5% stake in Axis Bank, Government gets Rs 3,839 crore

17 Nov 2022 , 09:14 AM

Through the sale of its 1.5% stake in Axis Bank, held through SUUTI, the government has made around Rs 3,839 crore. The Specified Undertaking of the Unit Trust of India, which the government created, sold a 1.5% interest in Axis Bank last week (SUUTI).

830.63 rupees per equity share was the offer’s floor price. Axis Bank’s stock dropped 0.44 % from the previous closing on the BSE to settle at Rs. 854.65. The disinvestment proceeds collected thus far this year have climbed to Rs 28,383 crore with the sale of the SUUTI share. The current fiscal year’s (April through March) disinvestment budget aim is set at Rs 65,000 crore.

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