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AXBA Axis Bank 144a

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Name Symbol Market Type
Axis Bank 144a LSE:AXBA London Depository Receipt
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Axis Bank Limited Outcome of Board Meeting

24/04/2024 12:52pm

RNS Regulatory News


RNS Number : 8922L
Axis Bank Limited
24 April 2024
 

AXIS/CO/CS/50/2024-25

 

April 24, 2024

 

 

  Dear Sir/Madam,

 

REF.:

DISCLOSURE UNDER REGULATIONS 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS")

SUB.:

OUTCOME OF BOARD MEETING

 

In reference to our letter no. AXIS/CO/CS/38/2024-25 dated April 18, 2024, and pursuant to Regulations 30 and other applicable provisions of the SEBI Listing Regulations, we hereby inform you that the Board of Directors of Axis Bank Limited ("Bank") at its meeting held today, i.e., April 24, 2024, has recommended a final dividend of Re. 1/- per equity share (face value of Rs. 2/- each) i.e., 50% of the face value, for the financial year ended March 31, 2024, subject to approval of the members of the Bank at the ensuing  30th Annual General Meeting ("AGM"). The dividend, if approved, will be paid within 30 days from the date of conclusion of the AGM.

 

The Board has also approved raising of funds (i) by issue of debt instruments in Indian/Foreign currency including, but not limited to, long term bonds, masala bonds, sustainable/ ESG Bonds (including green bonds), optionally/compulsorily convertible debentures, non-convertible debentures, perpetual debt instruments, AT 1 Bonds, Infrastructure Bonds and Tier II Capital Bonds or such other debt securities as may be permitted under the RBI guidelines from time to time, up to an amount of Rs. 35,000 crore (Rupees thirty-five thousand crore only), in terms of Section 42 of the Companies Act, 2013, the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and the SEBI Listing Regulations, subject to approval of the members of the Bank; and (ii) by issue of equity shares/ depository receipts and/or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment or such other permissible mode or combinations thereof as may be considered appropriate by the Board, up to an amount of Rs. 20,000 crore (Rupees twenty thousand crore only), in terms of applicable laws, subject to approval of the members of the Bank and statutory/regulatory bodies, as applicable.

 

The Board meeting commenced at 11:30 am (IST) and the aforesaid proposals were approved at 4:00 pm (IST).

 

This is for your information and records.

 

Thanking You.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

Sandeep Poddar

Company Secretary

 

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