Axis Bank Ltd.

In order to meet its asset sales target, the Central government is reportedly considering a plan to dilute its 11.7% stake in Axis Bank. At the current market price, the Government's about 11.7% stake is worth around $1.8 billion. The sale will boost efforts by finance minister Arun Jaitley to narrow India’s budget deficit to 3.9% of the gross domestic product (GDP) in the year to March 31, 2015. So far, the government has managed to raise only Rs 12700 crore from selling state assets, less than one-fifth of the target.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.