SUUTISpecified Undertaking of the Unit Trust of India
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As per the Request for Proposal, SUUTI the government plans to appoint up to three merchant bankers and selling brokers for assisting and advising on the SUUTI Holdings for a period of three years.
The RFP said, "The SUUTI intends to sell its holdings of equity shares in various companies through the offer for sale (OFS), block sale, bulk sale, regular sale in the stock exchange or any such other mechanism."
SUUTI currently holds 11.7 per cent stake in Axis Bank after selling off 9 per cent stake in the lender in March 2014, which helped mobilise ` 5,500 crore.
Summary: New Delhi [India], August 4 (ANI): Finance Minister Arun Jaitley on Friday unveiled a new Exchange Traded Fund (ETF), Bharat 22, consisting of 22 stocks of Central Public Sector Enterprises (CPSE), Public Sector Banks (PSB) and strategic holding of Specified Undertaking of Unit Trust of India (SUUTI).
After years of deliberations, the government has finally decided to offload part of its stake in engineering and constructions major Larsen and Toubro (LandT), held in SUUTI (Administrator Of The Specified Undertaking Of The Unit Trust of India) for nearly Rs 4,000 crore through block deals in Friday's session.
Request For Proposals are invited for Merchant Bankers To Assist And Advise The Suuti On The Suuti Holdings For A Period Of Three Years.
The targeted mop- up from the sale of the government's residual stake in private companies too has been lowered to ` 3,000 crore this fiscal from a budgeted ` 14,000 crore by way of selling Axis Bank shares held by Specified Undertaking of the Unit Trust of India ( SUUTI).
State-owned Specified Undertaking of the Unit Trust of India (SUUTI) has said that it aims to sell part of its stake in Axis Bank Limited (532215.BO) (AXBK.NS) within the next four months, the Economic Times has reported.
Tenders are invited for Electrical Maintenance Contract at the Residential Premises of SUUTI at Maker Kundan Garden Santacruz (west) Mumbai 400049 And Bandra Reclamation, Bandra (West), Mumbai
The Budget disinvestment target of ` 30,000 crore, the panel said, could be met by selling minority stakes in companies like SUUTI, Hindustan Zinc and Balco.
However, the company will not issue any new shares to its largest founder - Specified Undertaking of Unit Trust of India, or SUUTI.
The Promoter (Sponsor) group includes a state-owned entity called the Specified Undertaking of the Unit Trust of India or SUUTI (11.65%), Life Insurance Corporation of India (13.27%) and other public sector insurance companies (with a combined shareholding of 3.96%).