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CapitalStars provides Free Trial in Intraday as well as in Positional Services of Equity, Derivatives, and Commodities and Forex Markets. We provide recommendations in NSE, BSE, MCX, NCDEX, and MCX-SX etc. We render you enough entry and exit time in our calls so clients can easily maximize their profits. Read More

Tuesday 19 December 2017

Capitalstars Updates: Axis Bank board approves share, warrant allotment to raise funds: 19 Dec 2017

Capitalstars Updates: Axis Bank

Axis Bank has approved the allotment of shares and warrants to a clutch of investors for its Rs116bln fundraising plan, the lender said in an exchange filing.

The bank has approved allotting 165.33 mn shares at Rs525 a share and 45.36 mn warrants at Rs565 per share. The bank's board had approved the fundraising plan on Nov 10.

Life Insurance Corp of India, a promoter entity of the bank, and Bain Capital had agreed to infuse funds into the lender along with some foreign entities. This would add Rs436 mn to the lender's paid-up capital and would lead to a dilution of 8.23% stake for existing shareholders, the bank had said earlier.

The rating agency Moody's Investor Services had also flagged Axis Bank as a laggard among its peers in recognizing its asset quality problems.

Axis Bank’s loan mix as of FY17 consisted of corporate, retail segment and SMEs, contributing 45%, 42%, and 13% respectively. Also, its FY17 GNPA's and NNPA's stood at 5.5% and 2.3% respectively.

Axis Bank is currently trading at Rs 548.2, down by Rs 0.05 or 0.01% from its previous closing of Rs 548.25 on the BSE. The stock is currently trading above its 50 DMA.


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1 comments:

  1. Axis Bank on money done with their fund raising of totalling Rs. 11,626 crore.
    The bank collect Rs. 9,063 crore by issuance of equity and the remaining Rs. 2,563 crore through issue of warrants. Axix bank had called an EGM on 08 december to seek shareholders' approval.
    stock tips

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