• 15/08/2022 10:21 pm

#Axis Bank shares gain 2% on raising Rs 10,000 crore via QIP

Axis Bank share price gained over 2 percent intraday on August 11 after the private lender raised Rs 10,000 crore via Qualified Institutions Placement (QIP) issue on August 10.

A committee of Whole-Time Directors decided to close the issue on August 10, 2020 and accorded its consent for the issue of 238,038,560 equity shares of Rs 2 each of the bank at a price of Rs 420.10 per equity share.

The issue price is at a discount of 5 percent (i.e. Rs. 22.09 per equity share) to the floor price of Rs 442.19 per equity share for an aggregate value of Rs 10,000 crore.

The stock price has seen a steady rise in the last 3 months and was trading at Rs 442, up Rs 11.05, or 2.56 percent. It has touched an intraday high of Rs 443.85 and an intraday low of Rs 434.50.

It was also one of the top index gainers and was one of the most active stocks on NSE in terms of value with 70,67,147 shares being traded.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has low debt with zero promoter pledge. FII/FPI or Institutions increasing their shareholding.

Moneycontrol technical rating is neutral with moving averages being bullish and technical indicators being neutral.

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