Axis Bank rises on signing partial guarantee facility agreement with ADB
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Axis Bank is currently trading at Rs. 797.15, up by 5.10 points or 0.64% from its previous closing of Rs. 792.05 on the BSE.
The scrip opened at Rs. 794.00 and has touched a high and low of Rs. 800.65 and Rs. 789.30 respectively. So far 182533 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 866.60 on 25-Oct-2021 and a 52 week low of Rs. 626.40 on 12-Apr-2021.
Last one week high and low of the scrip stood at Rs. 800.65 and Rs. 767.20 respectively. The current market cap of the company is Rs. 245127.52 crore.
The promoters holding in the company stood at 9.71%, while Institutions and Non-Institutions held 77.65% and 12.64% respectively.
Axis Bank has signed a partial guarantee facility agreement (PGFA) with Asian Development Bank (ADB) to support supply chain financing for impact sectors, under which ADB will provide guarantees (variable) to the lending done by Axis Bank.
The programme is scalable, with an initial foundational ramp-up of nearly $150 million (Rs 1,139.85 crore). Even as the programme is sector agnostic, it will have special focus on ESG (environmental, social and governance) and other priority sectors, re-affirming both institutions' commitments to positive developmental and environmental impact in the country.
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.
