Business

SUUTI to promote as much as 3% stake in Axis Financial institution by way of OFS; ground value set at Rs 689.52 per share – Moneycontrol.com

SUUTI to promote as much as 3% stake in Axis Financial institution by way of OFS; ground value set at Rs 689.52 per share – Moneycontrol.com

Final Up to date : Feb 11, 2019 07:53 PM IST | Supply: Moneycontrol.com

About 10 % of the provide dimension might be reserved for retail traders.

The Specified Endeavor of Unit Belief of India (SUUTI) will promote as much as Three % stake in Axis Financial institution. The ground value has been set at Rs 689..52 per share, roughly a Three % low cost to the February 11 closing value of Rs 710.35 per share.

A complete of 50,759,949 fairness shares with a face worth of Rs 2 or 1.98 % fairness might be on provide with an choice to promote a further 26,337,187 shares or 1.02 % of the fairness in case of oversubscription.

The provide will open on February 12 for non-retail traders whereas bidding for retail traders and non-retail traders who select to increase their un-allotted bids might be on February 13.

About 10 % of the provide dimension might be reserved for retail traders.

First Printed on Feb 11, 2019 07:20 pm

Share: