Axis Bank's OFS opens for retail investors today. Should you subscribe?

Nearly all the brokerages retained their 'buy' calls on the stock post results with target prices as high as Rs 925

The government’s Rs 4,000-crore offer for sale (OFS) in Axis Bank received a warm reception by non-retail investors on Wednesday as the issue got over-subscribed by more than two times. The retail investors will get a chance to participate in the stake-sale process today, and analysts suggest they shouldn’t miss the opportunity.

“With this OFS, the hangover of SUUTI’s stake sale in the bank’s stock will ease which will reduce the volatility in the stock going-forward and put it on the growth trajectory,” says Siddharth Purohit, equity analyst at SMC Global.

The government, via Specified Undertaking of the Unit Trust of India