Govt gets Rs 3,839 cr from Axis Bank stake sale; disinvestment kitty swells

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The government has garnered about Rs 3,839 crore by selling a 1.5 per cent stake in Axis Bank, held through .


Last week the government sold a 1.5 per cent stake in 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 shares held by SUUTI,” the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey tweeted.


Shares of closed at Rs 854.65, down 0.44 per cent against the previous close on BSE.


With the sale of the stake, the proceeds mopped up so far this fiscal increased to Rs 28,383 crore. The budget target from in the current fiscal (Apr-March) is pegged at Rs 65,000 crore.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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