Axis Bank Share Update: From institutional investors to retail investors, there is an opportunity to buy Axis Bank shares at a discount rate. The Central Government is going to sell its 1.55 percent stake in Axis Bank. The central government is going to sell 4.65 crore shares under the Offer for Sale.
Offer will remain open for two days
Axis Bank has said in a regulatory filing with the stock exchanges that the government will sell its 1.55 percent stake in Axis Bank at a price of Rs 830.63 per share. These shares will be sold under the offer for sale on November 10 and 11. A separate window will be opened for offers to sell shares of Axis Bank on the stock exchanges. This window will be open on November 10 and 11, 2022 from the time of commencement of trading in the market at 9.15 am till the closing of the market at 3.30 am in which investors can bid to buy shares.
Retail investors can bid
On November 10, 2022, only non-retail investors can bid to buy shares of Axis Bank. Retail investors can bid to buy the shares only on November 11, 2022. However, non-retail investors who wish to carry forward unallocated bids can also bid on November 11.
buy shares at discount
The government is selling its stake in Axis Bank at a discount. At the close of the market on Wednesday, Axis Bank’s stock has closed at Rs 873.70, while the government is going to sell shares at Rs 830.63, which is Rs 43 less than Wednesday’s closing price, i.e. about 5 percent discount. ICICI Securities, Citigroup Markets India and Morgan Stanley India will be the brokers for the seller.
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