Board clears Axis Bank fund raiser
Axis Bank on Thursday said it has received the board’s approval to raise up to Rs 15,000 crore though issuance of various securities.
The fund raising will be “through issue of equity shares/depository receipts and/or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares,” the bank told bourses.
The filing said the fund raising can be through qualified institutional placement/ American Depository Receipts/Global Depository Receipts, preferential allotment or such other permissible mode or combinations as may be considered appropriate by the board.
The proposal will be subject to the approval of shareholders at the 26th annual general meeting of the bank.
The AGM will be held on July 31 through a video conference.
Shares of Axis Bank closed at Rs 423.50 on the BSE, down 2.24 per cent from the previous close.