Govt to sell Rs 8,000-cr SUUTI stake to meet revised FY20 divestment target

The Centre currently owns 4.71% in Axis Bank and 7.93% in ITC through SUUTI

The Centre will offload around Rs 8,000 crore worth of stake in Axis Bank and ITC through Specified Undertaking of Unit Trust of India (SUUTI) before March 31 to help it meet the revised divestment target for 2019-20 (FY20) of Rs 65,000 crore, Business Standard has learnt.
 
“There will be a shortfall compared to the revised disinvestment estimates. To make up for that, DIPAM (Department of Investment and Public Asset Management) will sell some Rs 8,000 crore worth of SUUTI stake,” said a top government official.
 
The Centre currently owns 4.71 per cent in Axis Bank and 7.93