Of the total approved plan, the lender will raise around Rs 35,000 crore through issue of various debt instruments including long term bonds, masala bonds, sustainable, optionally/compulsorily convertible debentures among others.
Axis Bank share price: Nomura India said a potential equity capital raise by Axis Bank would come as a surprise, given its management had in is November 2023 analyst meet cited no intent to raise capital any time soon.
Following the December quarter results, Axis Bank shares plunged 6.24 per cent to hit a low of Rs 1,020.85 on BSE. With this, the year-to-date return for the banking stock has turned negative.
Axis Bank block deal: Three sellers entities namely BC Asia Investments VII, BC Asia Investments III and Integral Investment South Asia IV will sell $444 million worth Axis Bank shares. The floor price is set at Rs 1,109 apiece.
Axis Bank Q2FY24 results: The bank's standalone net profit in the second quarter increased to Rs 5,864 crore, marking a 10 per cent year-on-year increase.