AXIS Bank to allot Unsecured Redeemable Non-Convertible Subordinated Debentures worth Rs.1925 crore

The Board of Directors of AXIS Bank Ltd has passed a resolution on March 20, 2012 approving Allotment of Unsecured Redeemable Non-Convertible Subordinated Debentures on private placement basis as the Bank's Lower Tier II capital aggregating to Rs. 1925 crores (including green shoe option of Rs. 925 crores).

The AXIS Bank Ltd stock closed the day at Rs.1188.15, down by Rs.11.25 or 0.94%. The stock hit an intraday high of Rs.1221.30 and low of Rs.1180.45.

The total traded quantity was 3.58 lakhs compared to 2 week average of 3.04 lakhs.

Source : Equity Bulls

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