Axis Bank gains on planning to raise funds up to Rs 4000 crore
Axis Bank is currently trading at Rs. 1103.45, up by 7.10 points or 0.65% from its previous closing of Rs. 1096.35 on the BSE.
The scrip opened at Rs. 1096.35 and has touched a high and low of Rs. 1107.00 and Rs. 1093.50 respectively. So far 80000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1151.50 on 05-Dec-2023 and a 52 week low of Rs. 814.25 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1107.00 and Rs. 1055.35 respectively. The current market cap of the company is Rs. 341413.42 crore.
The promoters holding in the company stood at 8.20%, while Institutions and Non-Institutions held 83.51% and 8.29% respectively.
Axis Bank has planned to raise funds by issuing fully paid, senior, rated, listed, unsecured, taxable, redeemable, long term non-convertible debentures (Series -7). The fund raise will have a base issue size of Rs 1000 crore and green shoe option to retain over subscription of Rs 3000 crore, thereby aggregating up to Rs 4000 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.
