AXIS Bank Ltd to raise funds through debentures

AXIS Bank Ltd 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. 1800 Crores (Rupees Eighteen Hundred Crore only). The Board of Directors of the Bank will consider the proposal to issue and allot the above Securities through Circular Resolution.

Shares of AXIS BANK LTD. was last trading in BSE at Rs.480.45 as compared to the previous close of Rs. 471.3. The total number of shares traded during the day was 434060 in over 5740 trades.

The stock hit an intraday high of Rs. 482.15 and intraday low of 468.8. The net turnover during the day was Rs. 206688065.

Source : Equity Bulls

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