Govt seeks to sell stake in Axis Bank by month-end

The government is aiming to raise Rs 30-40 billion via the sale of a stake held by a state-run trust fund in Axis Bank by month-end, Alok Tandon, joint secretary in the Department of Disinvestment said on Friday.

India holds a 20.7 percent stake in Axis Bank via a trust fund called Specified Undertaking of the Unit Trust of India (SUUTI).

Axis Bank shares were down 3.3 percent at 2:18 p.m, compared with a 0.8 percent fall in the broader Nifty.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The big challenge before India now is to figure out the real China

    Sino-Indian relations come under a rather special category, as far as ties between two neighbouring countries go.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Risks and effects of climate change

Research has shown that several people are aware of climate ...

Parvez Imam

Why we all have blood on our hands

What does the Jammu and Kashmir flood make us think? ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture