Stake Sale

AXIS Bank allots 19,87,28,139 shares at Rs. 629 through QIP

Posted On : 2019-09-26 09:16:21( TIMEZONE : IST )

AXIS Bank allots 19,87,28,139 shares at Rs. 629 through QIP

The Committee of Whole-Time Directors of AXIS Bank (the 'Committee'), at its meeting held today, has considered and approved allotment of 19,87,28,139 Equity Shares at a price of Rs. 629 per Equity Share (including a premium of Rs. 627 per Equity Share), (which takes into account a discount of 4.91%), to the floor price of Rs. 661.50 per Equity Share,) aggregating to Rs. 1,24,99,99,99,431, to successful eligible Qualified Institutional Buyers in accordance with Chapter VI of the SEBI Regulations.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Bank stands increased from Rs. 5,24,05,52,628 (2,62,02,76,314 equity shares of Rs. 2/- each) to Rs. 5,63,80,08,906 (2,81,90,04,453 equity shares of Rs. 2/- each).

Shares of AXIS BANK LTD. was last trading in BSE at Rs.694.9 as compared to the previous close of Rs. 704.3. The total number of shares traded during the day was 463219 in over 8597 trades.

The stock hit an intraday high of Rs. 703.05 and intraday low of 683.85. The net turnover during the day was Rs. 322641267.

Source : Equity Bulls