trending Market Intelligence /marketintelligence/en/news-insights/trending/Sy80H8aR4Dk_QNVxVwGcTg2 content esgSubNav
In This List

India to divest stake in Axis Bank, ICICI Bank, 49 other firms

Blog

Banking Essentials Newsletter: October Edition

Blog

Banking Essentials Newsletter: September Edition, Part - 2

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Video

S&P Capital IQ Pro | Powering Your Edge


India to divest stake in Axis Bank, ICICI Bank, 49 other firms

The Indian government plans to sell its stakes in 51 privatefirms, including Axis BankLtd. and ICICI BankLtd., in the next three years.

The government holds the shares through holding companySpecified Undertaking of Unit Trust of India, which will appoint up to threemerchant bankers to provide advice on the matter, according to a July 4 release.

Earlier in January, the Indian government had reportedlylooked to sell its11.59% interest in Axis BankLtd.