Axis Bank reported a quarterly prognosis gain driven by strong growth in its tariff income and other income | Photo credit: Anushree Fadnavis
Axis Bank Ltd plans to raise ₹ 20,000 million rupees through a sale of shares as part of a larger capital increase that includes debt.
The Mumbai -based bank plans to raise ₹ 35,000 million rupees through local rupee bonds or foreign currency bonds, additional level 1 bonds, infrastructure bonds and other debts, the bank said in exchange for the presentation on Thursday. Capital funds will be collected through the sale of local shares or deposit receipts, either through institutional placement or preferential allocation, he said.
The private sector bank reported a quarterly prognosis benefit promoted by strong growth in its tariff income and other income. The profits decreased 0.2 percent to ₹ 7,120 million rupees in the three months that ended March, the bank said in the presentation. Which exceeded the average estimate of ₹ 6,601 million rupees, according to a Bloomberg Analysts survey.
The increase in funds comes at a time when a meter of the actions of Indian lenders is close to their record, driven by investor optimism due to the relative isolation of the agitation sector related to the rate. Last week, IDFC First Bank Ltd approved a plan to collect ₹ 7.5 billion Warburg Pincus LLC rupees and ABU Dhabi’s investment authority.
The operational environment is improving, which would help boost growth and profits this financial year, Amitabh Chaudhry, the bank’s executive director, a media call said Thursday. “Corporate, safe and small businesses loans remain well. We will remain focused on the quality, cost and growth of the deposit,” he said.
The Axis Bank deposits base increased 10 percent in the year to ₹ 11.73 Lakh Crore and advances grew 8 percent to ₹ 10.41 Lakh Crore, backed by their corporate loan books and small measurement media. Gross breach assets were 1.28 percent, compared to an estimate or 1.51 percent.
Axis Bank shares have increased 13 percent since the beginning of the year.
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Posted on April 25, 2025
