Axis Bank moves up on raising Rs 12000 crore through bonds

Axis Bank is currently trading at Rs. 948.55, up by 3.95 points or 0.42% from its previous closing of Rs. 944.60 on the BSE.

axis bank trades in green on bourses
Axis Bank

The scrip opened at Rs. 945.00 and has touched a high and low of Rs. 949.00 and Rs. 942.85 respectively. So far 11666 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 949.00 on 13-Dec-2022 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. 949.00 and Rs. 914.00 respectively. The current market cap of the company is Rs. 290412.79 crore.

The promoters holding in the company stood at 9.69%, while Institutions and Non-Institutions held 78.36% and 11.94% respectively.

Axis Bank has raised Rs 12000 crore through allotment of 12,000 unsecured, rated, listed, subordinated, taxable, nonconvertible, Basel III compliant Tier II bonds (Series – 30) of the face value of Rs 1 crore each (Bonds), for cash, at a coupon rate of 7.88% p.a. payable annually, on a private placement basis. The said bonds are rated ‘AAA/Stable’ by India Ratings and Research and ‘AAA/Stable’ by ICRA.

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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