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Axis Bank is trading lower by 2.2% at Rs 1,355 in early morning deals on the NSE after the government sold 9% stake held by the Specified Undertaking of UTI (Suuti) in the bank via block deals today.
According to information available on the BSE, around 27.5 million shares have changed hands at Rs 1,313.25 per share and 15.45 million shares at Rs 1,318 per share.
However, the name of buyers of the shares could not be ascertained immediately.
The stock opened at Rs 1,335 and touched a low of Rs 1,313.25 on the BSE. A combined 49.3 million shares changed hands on the counter till 0930 hours on the BSE and NSE.
SUUTI has proposed to sell 42.2 million shares in the third-largest private-sector bank through open market. The sale, to be conducted through block trades, will help raise between Rs 5,450 crore ($892 million) and Rs 5,735 crore ($938 million).
According to information available on the BSE, around 27.5 million shares have changed hands at Rs 1,313.25 per share and 15.45 million shares at Rs 1,318 per share.
However, the name of buyers of the shares could not be ascertained immediately.
The stock opened at Rs 1,335 and touched a low of Rs 1,313.25 on the BSE. A combined 49.3 million shares changed hands on the counter till 0930 hours on the BSE and NSE.
SUUTI has proposed to sell 42.2 million shares in the third-largest private-sector bank through open market. The sale, to be conducted through block trades, will help raise between Rs 5,450 crore ($892 million) and Rs 5,735 crore ($938 million).
