AXIS Bank to raise funds

The Board of Directors of AXIS Bank Ltd at its meeting held on December 17, 2012, has decided to increase the authorized share capital of the Bank from Rs. 500 crores to Rs. 850 crores.

The board approved, subject to approval of shareholders, Reserve Bank of India and other Regulatory Authorities as may be required, to raise Tier - I capital of the Bank by issue of equity shares not exceeding 4,58,00,000 equity shares through GDRs / QIP issue and Preferential issue to promoters of the Bank.

The board approved proposal to increase the number of stock options which can be granted under the Employee Stock Option Scheme of the Bank.

The Board will seek approval of shareholders to the above proposals through postal ballot.

The AXIS Bank Ltd stock was trading at Rs.1361.50, up by Rs.8.50 or 0.63%. The stock hit an intraday high of Rs.1365 and low of Rs.1345.60.

The total traded quantity was 2.84 lakhs compared to 2 week average of 2.18 lakhs.

Source : Equity Bulls

Keywords