Page 5 - Specified Undertaking News Today

Proceeds worth Rs 68 crore from the fresh issue will be used to repay debt, and Rs 119.5 crore will be spent on working capital requirements, besides general corporate purposes. Get more IPO News and Business News on Zee Business.

The government has garnered about Rs 3,839 crore by selling its 1.5% stake in Axis Bank, held through SUUTI. Last week, the government sold a 1.5% 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. With the sale of the SUUTI stake, the disinvestment proceeds mopped up so far this fiscal increased to Rs 28,383 crore.

The stake sale will be conducted via the Offer for Sale (OFS) mechanism by the Specified Undertaking of The Unit Trust of India, known as SUUTI, , axis bank, suuti, offer for sale

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As of September, the SUUTI held 4,65,34,903 shares representing a 1.55 per cent stake of the bank

India to sell a 1.55 per cent stake in Axis Bank through an offer for sale, a government investment vehicle said on Wednesday.

The entire divestment proceeding will be allocated to the government, which means the government is expecting to get approximately Rs 4,000 crore from shares sale.

The union government will sell up to 1.55% of the total issued and paid-up equity share capital of the private lender through the Specified Undertaking of the Unit Trust of India

Shares of Axis Bank on Wednesday closed at Rs 874.35, up 0.17 per cent over the previous close on the BSE.