REG - Axis Bank Ltd Axis Bank Ltd (144A) - Outcome of Board Meeting

Axis BankAnnouncement

24/04/2024 13:00

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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  30(th)
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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