AXIS Bank to Raise Tier II Capital on Private Placement Basis

AXIS Bank Ltd has announced that the Board of Directors of the Company at its meeting held on June 06, 2008, inter alia, have approved borrowing an amount of upto Rs 6520.24 crores in one or more tranches by way of Upper Tier II Capital in Indian / Foreign Currencies and / or Lower Tier II Capital in the form of Sub-ordinate Debenture.The stock closed the day at Rs.760.20, down by Rs.10.20 or 1.32%. The stock hit an intraday high of Rs.788 and low of Rs.756.The total traded quantity was 404272 compared to 2 week average of 378713.