LIC, Citi, Goldman Sachs pick up 3.1% stake in Axis Bank

Written By Unknown on Jumat, 21 Maret 2014 | 21.03

New World Fund bought 26.88 lakh Axis Bank shares at Rs 1,315.12/ share, Citigroup Global bought 38.2 lakh shares at Rs 1,316.13 per share, Goldman Sachs bought 23.5 lakh shares at Rs 1,323.57 per share, while LIC of India bought 85.4 lakh (1.8 percent) shares at Rs 1,313.25 per share.

Moneycontrol Bureau

The government on Friday sold 4.2 crore shares, a 9 percent of its equity at an average price of Rs 1,323 per share, in  Axis Bank held via SUUTI. It raised Rs 5,557 crore through the bulk deal.

Of the 4.2 crore shares sold today, New World Fund bought 26.88 lakh shares at Rs 1,315.12 a share, Citigroup Global bought 38.2 lakh shares at Rs 1,316.13 per share, Goldman Sachs bought 23.5 lakh shares at Rs 1,323.57 per share, while LIC of India bought 85.4 lakh (1.8 percent stake) Axis Bank shares at Rs 1,313.25 per share.

After this stake sale (9 percent out of 20.72 percent stake), SUUTI will have a lock-in period of six-month, which means SUUTI can't sell stake in Axis Bank for six months after today's block deal.

Citi, JP Morgan and JM Financial were bankers for the deal.

Axis Bank stock closed at Rs 1,393.40, up 2.69 percent after hitting an intraday high of Rs 1,410.60 and low of Rs 1,313.25 on the BSE.

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 126.29 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 705.05 per share. At current value, the price-to-book value of the company is 1.75.


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