AXIS Bank Ltd closes QIP on Aug 10, 2020, prices at Rs. 420.10

The Committee of AXIS Bank Ltd, at its meeting held on Aug 10, 2020, has decided to close the Issue today i.e. 10th August 2020 and has accorded its consent for the issue of 238,038,560 Equity Shares of Rs. 2 each of the Bank at a price of Rs. 420.10 per Equity Share, which is at a discount of 5.00% (i.e. Rs. 22.09 per Equity Share) to the floor price of Rs. 442.19 per Equity Share, determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations for an aggregate value of Rs. 100,000 million (including Rs. 99,524 million towards share premium), in accordance with the provisions of Section 42 of the Companies Act, 2013 and Chapter VI of the SEBI ICDR Regulations.

Shares of AXIS BANK LTD. was last trading in BSE at Rs.430.95 as compared to the previous close of Rs. 433.2. The total number of shares traded during the day was 3978079 in over 6324 trades.

The stock hit an intraday high of Rs. 437.2 and intraday low of 429.4. The net turnover during the day was Rs. 1710542885.

Source : Equity Bulls

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