Axis Bank gains on partnering with India Shelter Finance Corporation

Axis Bank is currently trading at Rs. 870.00, up by 4.25 points or 0.49% from its previous closing of Rs. 865.75 on the BSE.

axis bank trades in green on bourses
Axis Bank

The scrip opened at Rs. 863.55 and has touched a high and low of Rs. 885.00 and Rs. 863.55 respectively. So far 176818 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 970.45 on 04-Jan-2023 and a 52 week low of Rs. 618.10 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 885.00 and Rs. 854.10 respectively. The current market cap of the company is Rs. 267776.73 crore.

The promoters holding in the company stood at 8.16%, while Institutions and Non-Institutions held 81.06% and 10.80% respectively.

Axis Bank and India Shelter Finance Corporation (IndiaShelter) have entered into a strategic partnership under the co-lending model. With this partnership, both lenders will be offering Secured MSME loans to middle and low-income segment borrowers based in the semi-urban regions.

This partnership will leverage the deep financial expertise of Axis Bank and the strong loan processing technology of IndiaShelter to assess the borrower’s credit profile and offer them loans at an optimal interest rate, ensuring a seamless banking experience. The partnership will empower Axis Bank and IndiaShelter to reach out to potential customers in the informal segment who are new to credit and are underserved by larger institutions.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

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