Temasek eyeing 10% stake in Axis Bank

PUBLISHED ON: September 10, 2008 | Duration: 3 min, 07 sec

   
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NDTV has learnt that Temasek, the investment arm of the Singapore government, is eyeing 10 per cent in Axis Bank and is willing to pay up to Rs 850 per share. This is a premium of 19.5 per cent over the CMP of Rs 711 per share. This comes after the Special Undertaking of UTI, or SUUTI, prepares to offload 27 per cent stake in the bank. At this price, Temasek will pay $675 million, thus, valuing the bank at $6.75 billion.
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