Axis Bank Ltd to raise upto Rs. 5000 crore

The Board of Directors of Axis Bank Limited (the "Bank") at its meeting held on April 27, 2021, had authorized the Bank to borrow/raise funds in Indian currency / foreign currency by issue of debt Instruments including but not limited to long term bonds, non-convertible debentures, perpetual debt instruments, AT 1 bonds, infrastructure bonds and Tier II capital bonds or such other debt securities as may be permitted under the guidelines issued by the Reserve Bank of India, from time to time, up to an amount of Rs. 35,000 crores (Rupees Thirty Five Thousand crores only) in domestic and overseas markets, in one or more tranches in terms of Section 42 of the Companies Act, 2013 read with relevant rules notified thereunder, the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 [now Securities and Exchange Board of India (Issue and Listing of Non-convertible Securities) Regulations, 2021] and the Listing Regulations, subject to the approval of the Shareholders of the Bank at the 27th Annual General Meeting of the Bank ("AGM").

The Bank proposes to raise funds by issuing Senior Unsecured Taxable Redeemable Non-Convertible Debentures (Series - 6) of Rs.10 Lakh each for cash at par with base issue size of Rs. 2,000 Crore (Two Thousand Crore) and Greenshoe option to retain oversubscription of Rs. 3,000 Crore (Three Thousand Crore) thereby aggregating upto Rs. 5000 crore (Rupees Five Thousand Crore only).

Shares of Axis Bank Limited was last trading in BSE at Rs. 689.05 as compared to the previous close of Rs. 709.85. The total number of shares traded during the day was 253387 in over 13298 trades.

The stock hit an intraday high of Rs. 707.05 and intraday low of 685.05. The net turnover during the day was Rs. 175631525.00.

Source : Equity Bulls

Keywords

AxisBank INE238A01034 FundRaising NCDs GreenshoeOption Oversubscription