Govt revives plan to offload SUUTI stake in Axis Bank

With valuations at a new high thanks to soaring stock markets, the government has started fresh discussions to offload its stake in Axis Bank, which is held through the Specified Undertaking of the Unit Trust of India (SUUTI). On Friday, finance secretary Ashok Chawla held a meeting with Axis Bank MD & CEO Shikha Sharma to discuss various options to divest SUUTI s stake in the bank, sources said. SUUTI is the largest promoter shareholder owning 23.86% in Axis Bank, followed by Life Insurance Corporation (LIC) which holds 9.64%. The plan to sell SUUTI s Axis Bank stake is not new. The ...

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