AXIS Bank approves issue of Non Convertible Debt Securities

AXIS Bank Ltd proposes to raise funds by issuing Unsecured Subordinated, Perpetual, Additional Tier I, Basel III compliant Non-Convertible Debentures (Series - 26) of the face value of Rs.10 lakh each for cash at par aggregating to Rs. 3,500 Crore (Rupees Three Thousand and Five Hundred crores only). The Board of Directors of the Bank will consider the proposal to issue and allot the above Securities through Circular Resolution.

On receipt of the approval of the Board of Directors, the Company will intimate to the Stock Exchange the date of passing of the circular resolution and other details of the said issue.

Shares of AXIS BANK LTD. was last trading in BSE at Rs.466.95 as compared to the previous close of Rs. 452.35. The total number of shares traded during the day was 791127 in over 11668 trades.

The stock hit an intraday high of Rs. 469.45 and intraday low of 453.4. The net turnover during the day was Rs. 367501634.

Source : Equity Bulls

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