Axis Bank OFS opens for non-retail investors

The floor price for the OFS is set at Rs 680 per equity share, a 4.48% discount to Axis Bank 's closing price of Rs 711.90 on Tuesday, 19 May 2021.

Through the offer for sale (OFS), the Specified Undertaking of the Unit Trust of India (SUUTI) proposes to sell up to 3.60 crore equity shares (representing 1.21% stake), with an option to sell an additional 0.74% stake, or 2,20,78,568 equity shares in case of oversubscription.

The total OFS size (base size + green shoe) stands at 5,80,78,568 shares, representing 1.95% of outstanding equity shares of the bank, aggregating to Rs 3,949.34 crore.

 

As on 31 March 2021, SUUTI held 10,31,75,065 shares or 3.45% stake in the bank.

The OFS opened on Wednesday (19 May 2021) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Thursday (20 May 2021). The bank has reserved 10% of the offer for retail investors.

As on 12:30 IST, the OFS received subscription for 1,52,18,053 shares. It was subscribed 46.97% on the base non-retail total offer size of 3,24,00,000 and 29.11% on the total non-retail total offer size (base size + green shoe) of 5,22,70,711 shares.

As on 31st March 2021, Axis Bank had a network of 4,594 domestic branches and extension counters situated in 2,596 centres.

The private lender reported net profit of Rs 2677 crore in Q4 FY21 compared with net loss of Rs 1387.78 crore in Q4 FY20. Total income during the quarter declined marginally by 0.03% to Rs 20,213.46 crore in Q4 FY21 over Q4 FY20.

The Axis Bank scrip rose 0.39% to currently trade at Rs 714.70 on the BSE.

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