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Axis Bank slips after setting floor price for QIP issue

Capital Market 

Shares of Axis Bank are trading lower after the bank informed about the opening of QIP of equity shares.

Meanwhile, the S&P BSE Sensex was up 64 points or 0.18% to 36157.89.

Axis Bank was down 0.87% to Rs 632.70. Axis Bank informed that at the meeting held on 19 September 2019, it has decided to open the issue of the Qualified Institutions Placement (QIP) of equity shares of face value of Rs 2 each for receiving bids. The bank's committee approved a floor price in respect of the issue is Rs 661.50 per equity share.

On the BSE, 29,180 shares were traded in the counter so far compared with average daily volumes of 2.69 lakh shares in the past two weeks. The stock hit a high of Rs 642.8 and a low of Rs 630.05 so far during the day.

Axis Bank provides a wide range of banking products and financial services to corporate and retail customers.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 20 2019. 09:29 IST