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Suuti sets ball rolling on Rs 60k-cr stake sale

Govt to appoint three merchant bankers to assist sale of shares in 51 companies over three years

N Sundaresha Subramanian & Ashley Coutinho 

The Specified Undertaking of Unit Trust of India (Suuti) has invited merchant bankers to help it sell stakes in 51 companies. The total value of these holdings, which includes 43 listed firms and eight unlisted ones, is likely to touch Rs 60,000 crore.

The bulk of the value resides in three blue-chip companies, Larsen & Toubro, ITC and Axis Bank. At Friday’s close, the value of these three holdings stood at Rs 59,732 crore. Amid expectations of a huge supply and implications for management, L&T (-1.4 per cent) and ITC (-0.3 per cent) ended in the red, while Axis Bank gained 0.7 per ...

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First Published: Sat, July 09 2016. 00:59 IST
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