Finance General News

India 3rd largest private bank is looking to sell shares worth $1.3 billion to institutional investors

axis bank

Axis Bank, India 3rd largest private sector bank, earlier today seen a drop in share price by 2% as the company is looking to sell shares worth over $1.3 billion. The bank is looking to sell its shares to institutional investors as part of the plan,  according to a report published on Bloomberg, earlier today.

At press time the company shares are priced at Rs800.50 per share while it went as low as Rs784.60 at around IST2:12 pm.

The banks stock price today opened at Rs790.24 on the Bombay Stock Exchange. Yesterday’s closing price company’s stock price was Rs789.09.

At press time, Nifty Bank index is priced at 31,269.50 and trading at a 0.34% high.

The share price of most of the private sector banks was up during the same time while Kotak Mahindra bank saw a 0.60 drop in price on the National Stock Exchange.

At press time, 27 companies in the Nifty index were seen in red while 23 stocks were seen in the red.

Axis bank stock price closed at Rs 800.50 on the Bombay Stock Exchange which is up by 11.93 points from the previous trading day. According to the reading from money control.

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