Govt decides to sell it’s balance stake in Axis. Technically a wrong time.
Govt holds stake in Axis bank through Specified Undertaking of UTI (SUUTI). Shareholding was transferred to SUUTI (an investment vehicle) in 2003 when a scheme of the Unit Trust of India failed and was bailed out. At that time, SUUTI held investments in more than 40 companies, which it has been slowly exiting since then. … Read more