Axis Bank to raise upto Rs 1,800 crore via debentures

axis-bank -CapitalHeightAxis Bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures (Basel- III compliant Tier II debentures) (Series – 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1,800 crore.

The board of directors of the bank will consider the proposal to issue and allot the above securities through circular resolution.

Axis Bank Ltd is currently trading at Rs 467.65, up by Rs 1.8 or 0.39% from its previous closing of Rs 465.85 on the BSE.

The scrip opened at Rs 469.9 and has touched a high and low of Rs 471 and Rs 465.25 respectively. So far 1444359 (NSE+BSE) shares were traded on the counter. The current market cap of the bank is Rs 111,376.83 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs 503.45 and Rs 463.5 respectively.

The promoters holding in the company stood at 28.89 % while Institutions and Non-Institutions held 58.14 % and 8.78 % respectively.

The stock is currently trading below its 100 DMA.

Axis Bank Ltd
BSE 461.00 [4.85] ([1.04]%)
NSE 462.40 [3.30] ([0.71]%)
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