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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Govt may sell its stakes in SUUTI shares
By IndianMandarins - 2019-01-14 11:08:21
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.
