Categories: Business

Axis Bank to raise Rs 15,000 crore, Board approves

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Axis Bank get nod for raise up to Rs 15,000 cr

new Delhi. Private sector Axis Bank said on Thursday that it has received the approval of the board of directors to raise up to Rs 15,000 crore by issuing various securities. Axis Bank told the stock market that in its meeting held on Thursday, the board approved the proposal to raise funds up to Rs 15,000 crore.

The bank said the funds would be raised through equity shares, depository receipts or any other instrument. The bank said that this amount can be raised through qualified institutional planning (QIP), US deposit receipts (ADRs) or global deposit receipts (GDRs), preferential allotment or other permitted instruments, which the Board considers appropriate. The proposal is to be approved by the shareholders at the forthcoming Annual General Meeting (AGM) of the bank.

Kalyan Jewelers makes Sanjay Raghuram its first CEO

Kalyan Jewelers on Thursday announced the appointment of Sanjay Raghuram as its first Chief Executive Officer. The company also announced the inclusion of Salil Nair and Anil Nair on its board. Kalyan Jewelers said that earlier Raghuraman was the chief operating officer in the company. Apart from this, Salil Nair has been included as a non-executive director on the board of the company while Anil Nair has been included as an independent director.

The board of the company already had four independent directors, who were experts in banking and financial sector. Now, with the induction of new directors, the board will also have retail and marketing experts.

This post was published on July 2, 2020 3:07 pm

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