- The GoI will sell 46.5 million shares of SUUTI in Axis Bank representing 1.55% of its equity stake.
- The two-bidding process through an Offer for Sale (OFS) for the stocks was completed on 11th November 2022 for both retail and non-retail investors.
- The floor price was kept at INR 830.63 per share and bids came at an indicative price of INR 840.80 per share.
- On behalf of the government, Citigroup Global Markets India, ICICI Securities, and Morgan Stanley India will act as brokers.
- The GoI is expected to raise around INR 4,000 crores by selling the stakes.
- Axis Bank Limited is a banking company that was established in 1993 with its headquarters in Mumbai. The current CEO of the bank is Amitabh Chaudhry.
Question:
Q.1 The Government of India recently decided to sell all of the stakes of SUUTI in?a. Axis Bank
b. Bank of Maharashtra
c. ITC
d. ICICI
