Govt garners Rs 3,839 crore from Axis Bank stake sale; disinvestment kitty swells to Rs 28,383 crore
Last week the government sold a 1.5 per cent stake in Axis Bank through the Specified Undertaking of the Unit Trust of India (SUUTI).
The government has garnered about Rs 3,839 crore by selling a 1.5 per cent stake in Axis Bank, held through SUUTI.
Last week the government sold a 1.5 per cent stake in Axis Bank through the Specified Undertaking of the Unit Trust of India (SUUTI).
The floor price for the offer was Rs 830.63 per equity share.
"Government has received about Rs 3,839 crore from the sale of Axis Bank shares held by SUUTI," the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey tweeted.
Shares of Axis Bank closed at Rs 854.65, down 0.44 per cent against the previous close on BSE.
With the sale of the SUUTI stake, the disinvestment proceeds mopped up so far this fiscal increased to Rs 28,383 crore. The budget target from disinvestment in the current fiscal (Apr-March) is pegged at Rs 65,000 crore.
Click Here For Latest Updates On Stock Market | Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Top 10 Mid-cap Stocks to Invest: Motilal Oswal picks Indian Hotels, Godrej Properties, and more; know target price
Atal Pension Yojana EPFO National Pension System SWP Retirement Planning schemes provide pension every month
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
08:24 AM IST