107th Day Of Lockdown

Maharashtra2305991272599667 Tamil Nadu122350741671700 Delhi104864781993213 Gujarat38419273131994 Uttar Pradesh3115620331845 Telangana2953617279324 Karnataka2887711878471 West Bengal2482316291827 Andhra Pradesh2381412154277 Rajasthan2221216877489 Haryana1936414505287 Madhya Pradesh1634112232634 Assam14033872724 Bihar139789792109 Odisha11201740767 Jammu and Kashmir92615567149 Punjab71404945183 Kerala6535370828 Chhatisgarh3526283514 Uttarakhand3305267246 Jharkhand3192217022 Goa203912078 Tripura177313241 Manipur14357930 Puducherry120061916 Himachal Pradesh110182510 Nagaland6733030 Chandigarh5234037 Arunachal Pradesh2871092 Mizoram2031430 Sikkim134710 Meghalaya113451
Business Companies 20 Jul 2019 Axis Bank to raise R ...

Axis Bank to raise Rs 18,000 crore through equity shares

PTI
Published Jul 20, 2019, 5:18 pm IST
Updated Jul 20, 2019, 5:18 pm IST
The bank is one of the worst-affected private lenders after the Reserve Bank's asset quality review.
The Board of Directors of the bank approved the proposal in this regard in the meeting held Saturday.
 The Board of Directors of the bank approved the proposal in this regard in the meeting held Saturday.

New Delhi: Private sector lender Axis Bank said on Saturday its board has approved raising up to Rs 18,000 crore through an issue of equity shares, depository receipts or convertible securities.

The Board of Directors of the bank approved the proposal in this regard in the meeting held Saturday, the bank said in a regulatory filing.

 

"The Board... has approved raising of funds aggregating up to Rs 18,000 crore," Axis Bank said in a regulatory filing.

The bank is one of the worst-affected private lenders after the Reserve Bank's asset quality review, which led to a huge increase in bad loans over past three years.

The bank's provisioning for bad loans reduced to Rs 2,711 crore in the fourth quarter of 2018-19, from Rs 7,179 crore in the corresponding period last fiscal, according to regulatory filings.

The bank said that the fund will be raised 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 including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment or such other permissible mode or combinations as may be considered appropriate.

 

The fund will be raised subject to shareholder's approval to the fund raising proposal through postal ballot process. 

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT