AXIS Bank to issue 34,000,000 equity shares at Rs.1390

The committee of the Board of Directors of AXIS Bank Ltd has decided to issue and allot on February 04, 2013, equity issue under Qualified Institutions Placement in terms of Chapter VIII of the SEBI ICDR Regulations.

The Board will allot 34,000,000 Equity Shares at a price of Rs. 1,390 per Equity Share (including a premium of Rs. 1,380 per Equity Share), aggregating to Rs. 47,260 million.

The AXIS Bank Ltd stock closed the day at Rs.1481.10, down by Rs.26.60 or 1.76%. The stock hit an intraday high of Rs.1512.40 and low of Rs.1475.25.

The total traded quantity was 0.83 lakhs compared to 2 week average of 2.73 lakhs.

Source : Equity Bulls

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