Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
1-min read

Axis Bank Eyes Raising Rs 35,000 Crore to Fund Expansion

Private sector Axis Bank has planned a capital raise of up to Rs 35,000 crore in about a year's time in line with its grwth projection in domestic as well as overseas operations.

PTI

Updated:June 21, 2017, 10:13 PM IST
facebookTwittergoogleskypewhatsapp
Axis Bank Eyes Raising Rs 35,000 Crore to Fund Expansion
Representative Image (File Photo: Getty Images)
Loading...
New Delhi: Private sector Axis Bank has planned a capital raise of up to Rs 35,000 crore in about a year's time in line with its growth projection in domestic as well as overseas operations.

In its annual report for 2016-17, Axis Bank said it may need to raise additional funds in one or more tranches from Indian as well as overseas markets to maintain its capital to risk weighted assets ratio (CRAR).

The country's third largest private sector lender said it may issue debt securities denominated in Indian rupees or any other permitted foreign currency including long term bonds, green bonds, non-convertible debentures on a private placement basis during the period of one year from the date of passing of the special resolution.

The board of directors at its meeting held on April 26, 2017 had approved the fund raise plan.

Axis Bank said the planned money raise is "for an amount not exceeding Rs 35,000 crore on a private placement basis during a period of one year from the date of passing of the special resolution."

The bank will put the agenda before shareholders at the annual general meeting scheduled for July 26, 2017. The annual report also showed that the bank's CEO Shikha Sharma had only a minimal increase in her gross salary at Rs 5.82 crore during 2016-17, up 5.9 percent from the previous fiscal.

She took home an annual salary of Rs 5.50 crore in 2015-16.

In her message to shareholders, Sharma said 2016-17 was a tough year and the bank dedicated a large part of the year to solve bulk of the issues, fortify the balance sheet and refocus on core and lasting strengths.

Stock of Axis Bank closed 0.83 per cent down at Rs 507.55 on BSE on Wednesday.
| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
Bajaj Finance 3,301.10 6.14
Yes Bank 134.15 -2.61
Interglobe Avi 1,473.75 0.60
Reliance 1,267.40 0.16
HDFC Bank 2,362.10 2.23
Company Price Change %Gain
Yes Bank 134.55 -2.36
Bajaj Finance 3,301.20 6.09
Reliance 1,265.70 0.13
Interglobe Avi 1,474.00 0.50
ICICI Bank 390.30 2.23
Top Gainers
Company Price Change %Gain
Zee Entertain 372.15 7.65
Bajaj Finance 3,301.10 6.14
Bajaj Finserv 7,992.95 4.93
Hero Motocorp 2,622.55 4.06
Maruti Suzuki 6,706.85 3.51
Company Price Change %Gain
Bajaj Finance 3,301.20 6.09
Hero Motocorp 2,623.50 4.26
Maruti Suzuki 6,707.20 3.53
Kotak Mahindra 1,460.70 3.31
Bajaj Auto 3,041.80 3.30
Top Losers
Company Price Change %Gain
Yes Bank 134.15 -2.61
Dr Reddys Labs 2,745.00 -2.00
Vedanta 160.95 -1.56
Hindalco 191.70 -1.49
Infosys 723.90 -1.25
Company Price Change %Gain
Yes Bank 134.55 -2.36
Vedanta 160.80 -1.44
Infosys 723.80 -1.42
HCL Tech 1,061.60 -1.15
Sun Pharma 408.00 -0.74

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results