Axis Bank stake sale will fund higher PSU burden

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Through SUUTI, the government holds 20.7 pct in Axis Bank, 11.32 pct in ITC and 8.21 pct in Larsen & Toubro (L&T). Reuters Through SUUTI, the government holds 20.7 pct in Axis Bank, 11.32 pct in ITC and 8.21 pct in Larsen & Toubro (L&T). Reuters
SummaryAxis to fetch Rs 7,200 cr, BSNL/MTNL get Rs 11,324 cr, IOC sale off.

year in CIL in highly unlikely and government is looking for a special dividend of at least Rs 9,000 crore from the company if the disinvestment does not happen. According to sources board will meet on January 14 to decide on the special dividend.

BSNL had paid Rs 6,724.51 crore as 4G spectrum fee while the amount for MTNL was about Rs 5,700 crore.

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