Announced Tue, 14 Jul · 16:39 IST
Axis Bank subsidiary Axis Finance completes preferential issue to Kedaara investors
Fund Raising View source PDF
AXISBANK · price
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Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹1318.50
prior close
₹1328.00
base price
After-mkt
timing
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+0.8+0.9+1.3+0.9-0.8+0.8-4.7-4.6-6.3-6.8————
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AI summary
Axis Bank has completed a preferential equity issue at its subsidiary Axis Finance Limited (AFL). Kedaara Pearl Holding and Kedaara Capital Fund IV AIF have been allotted shares in AFL, with all regulatory approvals now received. Post-allotment, AFL is no longer a wholly-owned subsidiary. Axis Bank's stake in AFL has come down from 100% to 94.92%, though the Bank continues to remain the holding company and promoter of AFL.
Likely market impact
Minor dilution of Axis Bank's stake in subsidiary AFL to 94.92%. Kedaara joins as partner. Bank retains control, no direct shareholder impact.