AXIS Bank Ltd to raise funds through Tier I & II Capital

The Board of Directors of AXIS Bank Ltd at its meeting held on June 22, 2012 has approved borrowing/raising funds by Issue of Debt instruments an private placements basis within the limits prescribed by RBI and other regulatory authorities from eligible investors, in one or more tranches.

Accordingly, as per the business plan for the year, the Bank proposes to raise the funds in domestic and/or overseas market, eligible for inclusion in Tier I and Tier II capital.

The above instruments will be listed at NSE/BSE/or any other Stock Exchange, if required.

The AXIS Bank Ltd stock was trading at Rs.1029.05, up by Rs.13.25 or 1.30%. The stock hit an intraday high of Rs.1038.25 and low of Rs.1016.20.

The total traded quantity was 2.30 lakhs compared to 2 week average of 29.12 lakhs.

Source : Equity Bulls

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