Axis Bank plans to raise funds worth Rs 35,000 crore in about a year's time on a private placement basis from Indian as well as overseas markets. The leading private sector bank in its annual report for 2016-17, had said that it might raise additional funds to maintain its capital to risk-weighted assets ratio.
The bank may issue debt securities denominated in Indian rupees or any other permitted foreign currency including long-term bonds, green bonds, non-convertible debentures.
The board of directors approved the fund-raising plan in its meeting held on April 26, 2017. The annual general meeting of the company is scheduled to be held on July 26, 2017.
Meanwhile, Axis Bank was trading higher by 0.9% at Rs 512.10 per share at 1054 hours on BSE. It hit a high of Rs 512.70 and a low of Rs 509.10 so far during the day.
Stock View:
Axis Bank Ltd is currently trading at Rs 513.75, up by Rs 6.2 or 1.22% from its previous closing of Rs 507.55 on the BSE.
The scrip opened at Rs 511.1 and has touched a high and low of Rs 514.35 and Rs 509.1 respectively. So far 1672335(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 121656.21 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 424.6 on 10-Jan-2017. Last one week high and low of the scrip stood at Rs 525 and Rs 504 respectively.
The promoters holding in the company stood at 28.76 % while Institutions and Non-Institutions held 56.69 % and 10.01 % respectively.
The stock is currently trading above its 50 DMA.
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