Small Business
Axis Bank to raise Rs 940 cr from promoters
The country"s third-largest private sector lender, Axis Bank, today said it expects to raise about Rs 940 crore through preferential allotment of 1.08 crore shares to its promoters, including LIC, by September 24. - Axis Bank Chief Shikha Sharma to get Rs 2 cr package">Axis Bank Chief Shikha Sharma to get Rs 2 cr package - SUUTI won"t participate in Axis Bank pref issue - Analysts" corner - Promoters ready to dilute stake for acquisition: Adi Godrej - Sebi may amend rules on promoters" voting rights, warrant allotment - Sebi may amend norms on promoters" voting rights At the current market price of Rs 870.55 per share, the bank is expected to mobilise about Rs 940 crore from its promoters. In the backdrop of the current economic environment, there is need to maintain a higher level of Tier I equity or core capital which is seen to reflect capital strength, Axis Bank said in a filing on the Bombay Stock Exchange. Upon assessing the bank"s need for core Tier I capital, it is proposed that a maximum of 7.14 crore shares to be issued through preferential allotment or QIP or GDR, it said. Post preferential allotment, the bank could issue up to 6.06 crore shares through GDR or QIP. Earlier this month, board of the bank had cleared proposal of share allotment and is seeking shareholders" nod through postal ballot. The preferential allotment is proposed to be made to promoters LIC, General Insurance Corporation, New India Assurance Company, Oriental Insurance Company, United India Insurance and National Insurance Company, it said.Payday Loan commented:
Axis bank is growing very rapidly and with the help of such money they will expand their business and will make reach to other areas of the country as well.
14.12.2011
Payday Loan commented:
Axis bank is growing very rapidly and with the help of such money they will expand their business and will make reach to other areas of the country as well.
14.12.2011
vno credit check loans commented:
Information is given about expansion of Axis bank.Their growth is increasing day by day.
16.03.2012