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Axis Bank moves up on plans to raise Rs 11,626 crore from Bain, LIC

13 Nov 2017 Evaluate

Axis Bank is currently trading at Rs. 552.25, up by 7.75 points or 1.42% from its previous closing of Rs. 544.50 on the BSE.

The scrip opened at Rs. 555.20 and has touched a high and low of Rs. 564.60 and Rs. 549.20 respectively. So far 516690 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 564.60 on 13-Nov-2017 and a 52 week low of Rs. 424.60 on 10-Jan-2017.

Last one week high and low of the scrip stood at Rs. 564.60 and Rs. 523.05 respectively. The current market cap of the company is Rs. 132795.09 crore.

The promoters holding in the company stood at 30.35%, while Institutions and Non-Institutions held 58.74% and 10.91% respectively.

Axis Bank has decided to raise equity and equity-linked capital of Rs 11,626 crore from a set of investors including entities affiliated with Bain Capital Private Equity and the bank’s promoter Life Insurance Corporation. Entities affiliated with Bain Capital propose to invest Rs 6,854 crore and LIC proposes to invest Rs 1,583 crore.

The bank proposes to raise Rs 9,063 crore through issuance of equity and the remaining Rs 2,563 crore through issue of warrants. In this regards, the bank has received approval for the capital mobilisation from its board of directors on November 10, 2017.

The bank proposes to issue 1.72 crore equity shares on preferential basis at a price of Rs 525 per share (at a premium of 2.4 per cent to the SEBI floor price as of the relevant date) and 4.5 crore warrants convertible into equity shares at a price of Rs 565 per share (at a premium of 10.2 per cent to the SEBI floor price), adding Rs 43.6 crore to the paid up capital of the bank. This would entail a dilution of 8.23 per cent for existing shareholders.

The capital raised will bolster the capital adequacy of the bank, thereby providing growth capital for the core business of the bank and its subsidiaries.

Axis Bank Share Price

1353.65 -5.50 (-0.40%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 795.40
ICICI Bank 1356.00
Axis Bank 1353.65
Kotak Mahindra Bank 379.20
Indusind Bank 852.10
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