8319

Axis Bank raises Rs.811 crore via preferential issue

Axis board will allot shares to promoters, including LIC and General Insurance Corporation
PTI Mail Me
Comment E-mail Print Share
First Published: Mon, Feb 04 2013. 11 20 PM IST
The capital raising has led to a redistribution of the bank’s shares with the weight of long-term institutions rising significantly.
The capital raising has led to a redistribution of the bank’s shares with the weight of long-term institutions rising significantly.
New Delhi: Private sector Axis Bank Ltd on Monday said it has alloted 5.83 million shares on a preferential basis to promoters, raising Rs.811.4 crore. The board has decided to allot 58,37,945 lakh shares of face value Rs.10 at a price of Rs.1,390 on preferential basis to promoters, including LIC and General Insurance Corporation, Axis Bank said in a BSE filing.
Of the total, about 4.2 million shares were alloted to Life Insurance Corporation, it said. The remaining shares were alloted to other promoters namely General Insurance Corporation, National Insurance Company, New India Assurance Company and United India Insurance Company.
Last month, the bank raised about Rs.4,726 crore through qualified institutional placement to investors, which witnessed participation from pension funds, insurers and domestic mutual funds.
The capital raising has led to a redistribution of the bank’s shares with the weight of long-term institutions rising significantly, thereby bringing down the promoters’ holding to 33.5%, other resident shareholders to 19.3% and global institutions, including GDRs, to 47.2%.
Comment E-mail Print Share
First Published: Mon, Feb 04 2013. 11 20 PM IST
blog comments powered by Disqus
  • Wed, Apr 16 2014. 06 11 PM
  • Wed, Apr 09 2014. 05 19 PM
ALSO READ close

LIC books Rs10,000 crore profit as markets rally

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved