This Article is From Mar 14, 2014

Government seeks to sell stake in Axis Bank by month-end

India is aiming to raise Rs 3000 crore to Rs 4000 crore via the sale of a stake held by a state-run trust fund in Axis Bank by month-end, Alok Tandon, joint secretary in the Department of Disinvestment said on Friday.

India holds a 20.7 per cent stake in Axis Bank via a trust fund called Specified Undertaking of the Unit Trust of India (SUUTI).

Axis Bank shares were down 2.3 per cent at 2:57 p.m, compared with a 0.13 per cent fall in the broader Nifty.

Copyright: Thomson Reuters 2014