 "Axis Bank")
The share sale in Axis Bank by the government on Thursday garnered more bids than shares on offer. The 46.53 million offer for sale (OFS) received bids for 48.54 million shares from institutional investors, stock exchange data showed. Most of the bids came at an indicative price of Rs 836, higher than the base price of Rs 830.6.
About 4.6 million shares reserved for retail investors will be auctioned on Friday. If there isn’t adequate demand from individual investors, the shares will be allotted to institutional investors.
Through the share sale, the government will be able to mop up Rs
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