Shares of Axis Bank Ltd slipped over 2 per cent in the early trade on Bombay Stock Exchange (BSE) after reports suggested that the HSBC Bank Mauritius would sell its stake in the bank via accelerated book building route.
HSBC will sell 1.96 crore shares at a price band of Rs 950-970.9 per share.
Shares of the company hit a weekly low of Rs 980.15 and were trading at Rs 987, down 1.38 per cent on the BSE.
In a similar fashion, shares of the company were quoting at Rs 986 a piece, down 1.49 per cent on the National Stock Exchange (NSE).
Meanwhile, the broader benchmark Sensex was quoting at 16,998.65, up 30.89 points at 10:00 hours.