Business Standard

Axis Bank board to mull fund raising


The private lender announced that its board will consider the proposal of fund raising on Wednesday, 24 April 2024.
The bank may raise funds through issuance of debt instruments including but not limited to bonds and non-convertible debentures, in Indian currency or foreign currency.
The lender may also issue 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 placement (QIP) / American depository receipts (ADRs) / global depository receipts (GDRs) program / preferential allotment or such other permissible mode or combinations thereof.
Meanwhile, the board of directors will also approve the audited standalone and consolidated financial results of the bank, for the quarter and year ended 31 March 2024 and recommend final dividend, if any.
Axis Bank provides a complete suite of banking and financial services including retail banking, wholesale banking and treasury operations.
The bank company reported 3.72% rise in standalone net profit to Rs 6071.10 crore on 25.06% increase in total income to Rs 33515.96 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.50% to end at Rs 1,029.30 on the BSE.
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First Published: Apr 19 2024 | 3:37 PM IST

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