Axis Bank has received board approval to raise funds through issue of 17.3 cr equity shares (at Rs 525) and 4.5 cr convertible warrants (at Rs 565).Axis Bank has received board approval to raise funds through issue of 17.3 cr equity shares (at Rs 525) and 4.5 cr convertible warrants (at Rs 565). This will lead to 9% stake sale for Rs 11,625 cr. Bain capital (4.8% stake), Capital group (3% stake) and LIC (1.2% stake) are the main investors.
Axis Bank has delivered disappoi nting Q2FY18 results with its asset quality worsening and gross non-performing assets (NPA) increasing to 5.9% from 5.0 % in Q1FY18. Its net NPAs also increased to 3.1% in Q2FY18 vs 2.3% Q1FY18.
Axis Bank is the third-largest private bank in India with ~4% market share in deposits. The bank has a wide distribution reach comprising 3,304 branches and 14,163 ATMs as of March 2017.
Axis Bank Ltd ended at Rs 544.5, up by Rs 3.9 or 0.72% from its previous closing of Rs 540.6 on the BSE.
The scrip opened at Rs 538.5 and touched a high and low of Rs 549 and Rs 533.3 respectively. A total of 10408248(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 129641.6 cr.
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