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India may be forced to delay Axis Bank stake sale: ET

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India may be forced to delay selling its stake in Axis Bank Ltd because of a weak stock market, The Economic Times newspaper reported on Saturday, citing unnamed market sources and an investment banker aware of the development. India was planning to raise 70 billion rupees ($950 million) by selling 4 percent of its stake in Axis Bank by early November, the newspaper reported, adding that a delay would be a setback for the government in meeting its divestment target for the year.The government holds a 9.6 percent stake in Axis Bank through state-owned entity Specified ...

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First Published: Sat, October 06 2018. 17:27 IST