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Axis Bank

Successful execution of the second consecutive QIP for Axis Bank

2020

Overview

Axis Bank is India’s leading private sector bank with:

  • Demonstrated track record of robust balance sheet growth through various business cycles
  • Growing retail business franchise
  • Strong brand recognition and extensive reach through a large and growing distribution network
  • Leadership in cashless and digital banking with an established technology platform
  • Upgraded credit risk management and improving asset quality 
  • Broad product offering to meet financial needs of customers
  • Experienced and revamped management team

 

Deal Highlights

  • The issue was priced at 2.1% discount to the last close resulting in tight discounts, signifying strong investor confidence
  • Witnessed extremely strong response ensuring successful completion of the deal
  • Overwhelming demand from marquee foreign and domestic institutional investors across all categories  in the face of one of the most challenging market conditions
  • Issue was completed in a very short span of time, notwithstanding the macro challenges and the ongoing pandemic which is a testament to the strong franchise of Axis Bank

 

Diversified Set of Investors

Deal Summary

QIP Size INR 100 Bn
BRLMs SBICAP, AXISCAP, UBS, CS, HSBC, BNP PARIBAS, I-SEC, YSEC
SEBI Floor Price INR 442.19
Issue Price INR 420.10 (4.99% discount to floor price)
Issue Opened On Tuesday, August 4, 2020
Issue Closed On Monday, September 10, 2020

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