AXIS Bank allots shares to QIBs, GDRs, LIC and New India Assurance

AXIS Bank Ltd has announced that the Bank on September 24, 2009 has made allotment of 3,30,44,500 equity shares @ Rs. 906.70 per share inclusive of premium of Rs. 896.70 per share by way of Qualified Institutional Placement (QIP) to QIBs.

The Board allotted 50,55,500 Global Depositary Receipts (GDRs), each GDR representing one (1) underlying fully paid up equity share @ Rs. 906.70 per share inclusive of premium of Rs. 896.70 per share to investors.

The Board also allotted 39,76,632 equity shares to Life Insurance Corporation of India and The New India Assurance Company Ltd. @ Rs. 906.70 per share inclusive of premium of Rs. 896.70 per share.

The stock was trading at Rs.918.90, up by Rs.0.65 or 0.07%. The stock hit an intraday high of Rs.925 and low of Rs.906.

The total traded quantity was 75800 compared to 2 week average of 355087.

Source : Equity Bulls

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