Axis Bank The government has decided to sell the 1.55 percent stake in Axis Bank held by SUUTI or the Specified Undertaking of The Unit Trust of India on exchanges, according to media reports.
The offer for sale will comprises 4.65 crore shares of the private bank and will be open on November 10 and 11.
On opening day, November 10 only non-retail investors will be allowed to place their bids.
On November 11 only retail investors will be allowed to submit bids, the exchange filing said.
ICICI Securities, Citigroup Global Markets India and Morgan Stanley India will be the brokers on behalf of the seller, it added.
A week earlier, US-based private equity major Bain Capital sold a 0.54 percent stake in Axis Bank for Rs 1,487 crore through an open market transaction, a Moneycontrol report said.
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