AXIS Bank raises Rs 2000 crore

AXIS Bank Ltd has announced that the Board of Directors of the Bank has passed a resolution approving Allotment of Unsecured Redeemable Non-Convertible Subordinated Debentures on private placement basis as the Bank's Lower Tier II capital aggregating to Rs 2000 crores. The Debentures are issued as per the term sheet.

The Debentures will be listed on The Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE) in India.

The stock was trading at Rs.760.50, up by Rs.44.05 or 6.15%. The stock hit an intraday high of Rs.764 and low of Rs.700.

The total traded quantity was 744724 compared to 2 week average of 760558.

Source : Equity Bulls

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