Private sector player Axis Bank on Thursday said it proposes to raise Rs 6,000 crore from bonds to fund its business growth. The board has approved issuance of long term bonds on non-convertible debentures up to Rs 6,000 crore on a private placement basis.
The approval of shareholders of the Bank in terms of the provisions of Companies Act, 2013 is proposed to be obtained by way of Postal Ballot.
The bank's net profit for the quarter rose by 18.29% at Rs 1666.76 crore as compared to Rs 1408.93 crore for the quarter ended June 30,2013. It total income increased by 10.71% to Rs 9980.93 crore for the quarter under review from Rs 9059.12 crore for the corresponding quarter of the previous year.
The promoters holding in the company stood at 29.17% while Institutions and Non-Institutions held 59.53% and 7.87% respectively.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 408.59 and a 52 week low of Rs 152 respectively.
Current price of stock is Rs 402.35, up by 3.65 points from its previous closing on the BSE.
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