India selling up to $1.2 bln stake in Axis Bank

HONG KONG, Sept 24 (Reuters) - An Indian government agency is selling a stake worth roughly $1.2 billion in private sector lender Axis Bank (AXBK.BO), sources familiar with the situation said on Wednesday.

The Administrator of the Specified Undertaking of the Unit Trust of India, known as SUUTI, has tapped Citigroup (C.N), JP Morgan (JPM.N) and ICICI Securities to sell a 21 percent stake in the lender.

An investor roadshow began on Tuesday in Dubai and was scheduled to continue on Wednesday in Dubai and Abu Dhabi, one of the sources said. (Reporting by Tony Munroe; editing by Ken Wills)