The Specified Undertaking of the Unit Trust of India (SUUTI), under the Union government, plans to sell 4.65 crore shares representing a 1.55 per cent stake in Axis Bank, according to a regulatory filing.

With the sale, the government would completely exit the private sector lender.

As of September, the SUUTI held 4,65,34,903 shares representing a 1.55 per cent stake of the bank.

The government, at the current market price, is expected to realise about Rs 4,000 crore from the share sale.

Shares of Axis Bank on Wednesday closed at Rs 874.35, up 0.17 per cent over the previous close on the BSE.

Shares held in dematerialised form in one or more demat accounts with the relevant depository participant will be offered for sale on November 10, (‘T day’) for non-retail investors only and on November 11 (T+1 day) for retail and non-retail investors.

In May last year, the government sold 1.95 per cent stake in Axis Bank held through SUUTI for a consideration of Rs 4,000 crore.