Axis Bank Share Sale Under Suuti Fetches Rs. 38.4 Billion For Govt.

August 7, 2023

The Specified Undertaking of the Unit Trust of India (SUUTI), under the Central Government, will sell up to 1.55% stake or 4.65 crore shares in Axis Bank via an offer for sale (OFS). Around 4.65 crore shares of Axis Bank will go on the block on 10 and 11 November, at a floor price of ₹830.63 per share, the bank informed in a regulatory filing. ICICI Securities, Citigroup Global Markets India and Morgan Stanley India will be acting as brokers on behalf of the seller.


IndusLaw acted as Indian legal counsel for ICICI Securities Limited, Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited. The IndsuLaw team comprised of Partners Manan Lahoty and Manshoor Nazki, and Principal Associate Priyadarshini Rao.


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