Axis Bank Limited raises Rs. 12000 crores through bonds

The Committee of Whole-time Directors of Axis Bank Limited, has today approved the allotment of 12,000 unsecured, rated, listed, subordinated, taxable, nonconvertible, Basel III compliant Tier II bonds (Series - 30) of the face value of Rs. 1 crore each ("Bonds"), for cash, at par aggregating to Rs. 12,000 crore at a coupon rate of 7.88% p.a. payable annually, on a private placement basis.

The said Bonds are rated "AAA/Stable" by India Ratings and Research Private Limited and AAA/Stable by ICRA Limited.

Shares of Axis Bank Limited was last trading in BSE at Rs. 938.85 as compared to the previous close of Rs. 933.70. The total number of shares traded during the day was 164797 in over 10367 trades.

The stock hit an intraday high of Rs. 940.75 and intraday low of 921.70. The net turnover during the day was Rs. 153669225.00.

Source : Equity Bulls

Keywords

AxisBank INE238A01034 FundRaising PrivatePlacement Bonds