Axis Bank is planning to raise 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 Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment or such other permissible mode or combinations thereof as may be decided, subject to approval of the shareholders of the Bank and receipt of other governmental/ regulatory/ statutory approvals at an appropriate time, as applicable.
A meeting of the Board of Directors of the bank is scheduled to be held on July 2, 2020, to consider and approve the same.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
