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SUUTI to sell up to 3% stake in Axis Bank

IANS  |  Mumbai 

The Specified Undertaking of (SUUTI) has offered to sell up to 1.98 per cent stake in starting at a floor price of Rs 689.52 per share, with plans to additionally sell 1.02 per cent equity shares.

SUUTI, in a statement, said that it will sell up to 5.1 crore shares on the stock exchanges on Tuesday and Wednesday.

"The seller (SUUTI) proposes to sell up to l50,759,949 (1.98 per cent) equity shares of face value of Rs 2 each of the company (base offer size), on February 12, 2019 (T day), (for only) and on February 13, 209 (T+1 day) (for and who choose to carry their unallotted bids) with an option to additionally sell 26,337,187 (1.02 per cent) equity shares of the company," it said.

On Monday, shares of closed at Rs 710.35, lower by Rs 7.90 or 1.10 per cent from the previous close.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 22:12 IST