The government is talking to financial institutional investors via its bankers JPMorgan and Citigroup to see which FIIs are going to buy into Axis Bank.
The government is planning to raise over Rs 5000 crore which will be key to it meet its fiscal deficit target of 4.6 percent. The government is talking to financial institutional investors via its bankers JPMorgan and Citigroup to see which FIIs are going to buy into Axis Bank . The price band given is Rs 1297-1357, which means a 0-5% discount to investors. After this stake sale, SUUTI will have a lock-in of 6 months, which means SUUTI can't sell stake in Axis Bank for six months after tomorrow's block deal.
Axis Bank stock price
On February 24, 2014, Axis Bank closed at Rs 1235.50, up Rs 45.75, or 3.85 percent. The 52-week high of the share was Rs 1549.00 and the 52-week low was Rs 764.00.
The company's trailing 12-month (TTM) EPS was at Rs 126.31 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.78. The latest book value of the company is Rs 705.19 per share. At current value, the price-to-book value of the company is 1.75.
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Govt hopes to get over Rs 5.5k cr via Axis Bank stake sale
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