Govt to sell nearly 2% SUUTI stake in Axis Bank, may get Rs 3,969 cr

Floor price set at Rs 680 a share; govt keeps option open to sell additional 0.74% stake

The government will sell nearly 2 per cent stake in Axis Bank Ltd. held through Specified Undertaking of the Unit Trust of India (SUUTI), a move that’s expected to fetch around Rs 3,969 crore to the exchequer in divestment receipts.

The government will sell its 1.21 per cent stake or 36 million shares in Axis Bank with the floor price set at Rs 680 a share. It has also kept the option to additionally sell its 0.74 per cent or 22 million shares in the private sector lender. In February, Business Standard had reported that the government plans to sell