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Govt may sell its stakes in SUUTI shares

By IndianMandarins- 14 Jan 2019
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The Finance Ministry may sell part of its stake in Axis Bank and ITC, held through SUUTI, in the next few months.

 

As on September 30, 2018, Specified Undertaking of Unit Trust of India (SUUTI) held around 9.63% stake in Axis Bank, 7.97% in ITC and 1.80% in L&T.

 

While the government is waiting for L&T to launch a buyback offer to tender its shares, it may offer its holdings in Axis Bank and ITC in off-market deals.

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