Axis Bank stake sale by SUUTI not likely immediately: Sources

Stake sale by Specified Undertaking of the Unit Trust of India (SUUTI) in Axis Bank is unlikely to happen anytime soon as the paperwork is yet to be completed, reports CNBC-TV18.

Sources in the Finance Ministry told CNBC-TV18 that while bankers have been appointed for the sale of stake in SUUTI’s basket of nearly 40 stocks, no timeline has been set for taking up the sale.

Bankers have also confirmed that they have not received any timelines.  

It must be noted that SUUTI being a promoter can sell its stake through OFS as well.Watch video for more...