Axis Bank Board To Meet On July 2 To Explore Fund Raising
Money & Banking
The board of directors of private sector lender Axis Bank will meet on July 2 to look at fund-raising plans.
While the bank did not specify the amount of capital it is looking to raise, its board had earlier in April approved a proposal to raise up to ₹35,000 crore through debt instruments, including long-term bonds, non-convertible debentures, perpetual debt instruments, Tier-II capital bonds and such other debt securities as may be permitted under RBI guidelines, from time to time.
“The meeting of the board of directors of Axis Bank will be held on Thursday, July 2, 2020 to, inter alia, explore the option of raising funds by 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 Placements (QIPs)/ American Depository Receipts (ADRs)/Global Depository Receipts (GDRs) programme…,” it said in a regulatory filing on Monday.
In a separate filing, Axis Bank said the board has approved appointment of TC Suseel Kumar, Managing Director, Life Insurance Corporation of India, as additional non-executive (nominee) director. LIC is a promoter of the private sector lender.
Published on
June 30, 2020
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The board of directors of private sector lender Axis Bank will meet on July 2 to look at fund-raising plans.
While the bank did not specify the amount of capital it is looking to raise, its board had earlier in April approved a proposal to raise up to ₹35,000 crore through debt instruments, including long-term bonds, non-convertible debentures, perpetual debt instruments, Tier-II capital bonds and such other debt securities as may be permitted under RBI guidelines, from time to time.
“The meeting of the board of directors of Axis Bank will be held on Thursday, July 2, 2020 to, inter alia, explore the option of raising funds by 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 Placements (QIPs)/ American Depository Receipts (ADRs)/Global Depository Receipts (GDRs) programme…,” it said in a regulatory filing on Monday.
In a separate filing, Axis Bank said the board has approved appointment of TC Suseel Kumar, Managing Director, Life Insurance Corporation of India, as additional non-executive (nominee) director. LIC is a promoter of the private sector lender.
Published on
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.
In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.
Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality Journalism
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