On 10 November 2022, Axis Bank went down 3.13 per cent to Rs 847 after the offer for sale (OFS) opened for non-retail investors. The government, through SUUTI which, offers 4,65,34,903 shares, or its entire 1.55 per cent stake.

The price band is Rs 830.63-874.35 for the offer per equity share on BSE.  For non-retail investors, the OFS opened today (10 Nov), and it will be subscribed to tomorrow (11 Nov).

In the morning trade, the OFS received a subscription for 18,42,899 shares. It was subscribed 4.40 per cent on the base non-retail offer size of 4,18,81,412 shares.

The net profit of Axis Bank net profit soared 70 per cent to Rs 5,329.77 crore on a 20 per cent rise in total income to Rs 24,180.08 crore in the second quarter of FY23 over in the second quarter of FY22. NII increased by 31 per cent year on year to Rs 10,360 crore. Net interest margin (NIM) for the second quarter of FY23 stood at 3.96 per cent.