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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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