Personal sector lender Axis Financial institution on Tuesday mentioned it has raised Rs 10,000 crore by allotment of fairness shares to certified institutional consumers (QIB). Final week, Axis Financial institution had set a flooring worth of Rs 442.19 per fairness share for its proposed Rs 15,000-crore certified institutional placement (QIP).
“The committee of whole-time administrators of the financial institution at its assembly held as we speak (Tuesday), has thought of and permitted the allotment of 238,038,560 fairness shares at a worth of Rs 420.10 per fairness share (together with a premium of Rs 418.10 per fairness share),” Axis Financial institution mentioned in a regulatory submitting.
This takes under consideration a reduction of 5 per cent, to the ground worth of Rs 442.19 per fairness share, aggregating to Rs 10,000 crore, to profitable eligible certified institutional consumers, it said.
The board of the financial institution had final month permitted the Rs 15,000 crore fund elevate plan. The QIP was okayed by shareholders on the annual normal assembly held on July 31, 2020, the financial institution mentioned.
Shares of Axis Financial institution have been buying and selling 2.53 per cent increased at Rs 441.85 apiece on BSE.