Axis Bank climbs 3% on fund raising plans
ET had reported that Bain Capital is in advanced talks with Axis Bank to invest between $750 million and $1 billion.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Axis Bank climbed over 3 per centon Wednesday after the company informed bourses that its board will meet on Friday (November 10) to consider raising of funds by issue of equity/equity linked securities through permissible mode at an appropriate time.
The scrip gained 3.41 per cent to end the session at Rs 545.05 on BSE. Shares of the lender opened at Rs 537.70 and touched a high and low of Rs 551.55 and Rs 533.65, respectively.
In its October 31 edition, ET had reported that Bain Capital is in advanced talks with Axis Bank to invest between $750 million and $1 billion (Rs 4,800-6,400 crore) in what could be one of the largest private-equity investments in the Indian banking sector.
In a notice to the stock exchanges, Axis Bank said late Tuesday that it would consider raising funds through equity, or equity-linked securities, at an appropriate time once the board gives its approval.
ET had reported that Bain’s proposed investment was expected to come as a primary issuance of shares through a preferential allotment that would allow the PE fund to own up to 5 per cent of the lender.
The scrip gained 3.41 per cent to end the session at Rs 545.05 on BSE. Shares of the lender opened at Rs 537.70 and touched a high and low of Rs 551.55 and Rs 533.65, respectively.
In its October 31 edition, ET had reported that Bain Capital is in advanced talks with Axis Bank to invest between $750 million and $1 billion (Rs 4,800-6,400 crore) in what could be one of the largest private-equity investments in the Indian banking sector.
In a notice to the stock exchanges, Axis Bank said late Tuesday that it would consider raising funds through equity, or equity-linked securities, at an appropriate time once the board gives its approval.
ET had reported that Bain’s proposed investment was expected to come as a primary issuance of shares through a preferential allotment that would allow the PE fund to own up to 5 per cent of the lender.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
