Axis Bank declines nearly 2% on SUUTI stake sale report

Axis Bank

Axis Bank shares slipped 1.7 percent in morning on Tuesday on the back of dilution of shareholding by Specified Undertaking of the United Trust of India (SUUTI).

The stock was quoting at Rs 709.25, down Rs 1.10, or 0.15 percent on the BSE, at 10:15 hours IST.

The private sector lender on Monday said SUUTI proposed to sell up to 5,07,59,949 (representing 1.98 percent of paid-up equity) equity shares of the bank with an option to additionally sell 2,63,37,187 (1.02 percent) equity shares through offer for sale.

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