Axis Bank gains on planning to raise funds through bonds
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Axis Bank is currently trading at Rs. 924.60, up by 9.90 points or 1.08% from its previous closing of Rs. 914.70 on the BSE.
The scrip opened at Rs. 917.65 and has touched a high and low of Rs. 926.60 and Rs. 914.00 respectively. So far 87311 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 928.00 on 08-Dec-2022 and a 52 week low of Rs. 618.10 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 928.00 and Rs. 891.50 respectively. The current market cap of the company is Rs. 284360.46 crore.
The promoters holding in the company stood at 9.69%, while Institutions and Non-Institutions held 78.36% and 11.94% respectively.
Axis Bank is planning to raise funds by issuing unsecured, rated, listed, subordinated, taxable, non-convertible, Basel III compliant Tier II bonds aggregating to total issue size up to Rs 12,000 crore. The offer comprises of a base issue of up to 1,000 bonds aggregating to Rs 1,000 crore with a green shoe option to retain oversubscription of up to 11,000 bonds aggregating to Rs 11,000 crore.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
