Axis Bank inches up on planning to raise Rs 35,000 crore via debt instruments

Axis Bank is currently trading at Rs. 760.40, up by 0.20 points or 0.03% from its previous closing of Rs. 760.20 on the BSE.

The scrip opened at Rs. 760.20 and has touched a high and low of Rs. 768.00 and Rs. 755.20 respectively. So far 88145 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 788.55 on 28-Mar-2019 and a 52 week low of Rs. 479.00 on 27-Apr-2018.

Last one week high and low of the scrip stood at Rs. 770.25 and Rs. 737.60 respectively. The current market cap of the company is Rs. 196514.30 crore.

The promoters holding in the company stood at 18.70%, while Institutions and Non-Institutions held 70.86% and 10.42% respectively.

In a bid to fund business growth, Axis Bank is planning to raise Rs 35,000 crore debt instrument, including in foreign currency. The decision in this regard will be taken at the annual general meeting held on July 20.

The board has already given an approval to raise funds in Indian or foreign currency by issue of debt instruments including but not limited to long-term bonds, non-convertible debentures, perpetual debt instruments, and tier-II capital bonds up to an amount of Rs 35,000 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.

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