Last checked at 4 Aug 2020 15:12
AXIS/CO/CS/204/2020-21
4th August 2020
Dear Sirs,
Sub: Opening of the Qualified Institutions Placement of equity shares of face value of ₹ 2 each (the "Equity Shares") by Axis Bank Limited (the "Bank") to Qualified Institutional Buyers (QIB) in accordance with the provisions of Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations") and Section 42 of the Companies Act, 2013 (including the Rules made thereunder) (the "Issue").
This is to inform you that pursuant to the approval granted by the Board of Directors of the Bank (the Board), at its meeting held on 2nd July 2020, the approval granted by the Shareholders of the Bank at its 26th Annual General Meeting held on 31st July 2020 to the Issue, the Committee of Whole-Time Directors of the Bank (the "Committee"), at its meeting held today i.e. 4th August 2020, has decided to open the Issue for receiving bids, in accordance with the provisions of Chapter VI of the SEBI ICDR Regulations. The Committee also approved and adopted the Preliminary Placement Document dated 4th August 2020 in connection with the Issue.
We further wish to inform you that the Committee also approved that the floor price in respect of the Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs. 442.19 per Equity Share of the Bank, and the 'relevant date' for this purpose, in terms of Regulation 171of the SEBI ICDR Regulations, is 4th August 2020. In accordance with Regulation 176(1) of the SEBI ICDR Regulations, the Committee may, at its absolute discretion may offer a discount of not more than 5% to the said Floor Price.
The Committee's meeting commenced at 6.00 p.m. and concluded at 6.20 p.m. A certified copy of the resolution passed by the Committee is enclosed herewith for your information and record.
Further, we would like to inform you that the meeting of the Committee will be held on Monday, 10th August 2020 to consider and approve, among other things, the issue price for the Equity Shares proposed to be issued pursuant to the Issue in accordance with the Chapter VI and other applicable provisions of the SEBI ICDR Regulations.
Kindly take the above on record and the same may be treated as compliance under Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
Thanking you.
Yours faithfully,
For Axis Bank Limited
Girish V. Koliyote
Company Secretary
Encl: Certified copy of the resolution.
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE COMMITTEE OF WHOLE-TIME DIRECTORS OF THE AXIS BANK LIMITED AT ITS MEETING HELD ON 4th AUGUST 2020
APPROVAL FOR OPENING OF ISSUE
"RESOLVED THAT pursuant to the resolution passed by the Board of Directors of the Bank at its meeting held on 2nd July 2020 and the resolution passed by the shareholders of the Bank at their 26th Annual General Meeting held on 31st July 2020 under Section 42, 62(1)(c) and other applicable provisions of the Companies Act, 2013 ("Companies Act") and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the "SEBI ICDR Regulations"), each as amended, the issue of equity shares of the Bank of face value of ₹ 2 each (the "Equity Shares") to eligible Qualified Institutional Buyers ("QIBs") under Chapter VI of the SEBI ICDR Regulations and Section 42 and any other applicable provisions of the Companies Act, the Companies (Prospectus and Allotment of Securities) Rules, 2014, the Companies (Share Capital and Debentures) Rules, 2014, the Banking Regulation Act, 1949, the Reserve Bank of India (Issue and Pricing of Shares by Private Sector Banks) Directions, 2016, the Reserve Bank of India (Prior approval for acquisition of shares or voting rights in private sector banks) Directions, 2015 and the provisions of all other applicable laws, rules, regulations, guidelines, circulars and notifications, each as amended, (the "Issue") be opened today, i.e. 4th August 2020."
"RESOLVED FURTHER THAT in respect of the Issue, the relevant date, in terms of Regulation 171 of SEBI ICDR Regulations, shall be the date of this resolution i.e. 4th August 2020 (the "Relevant Date")."
"RESOLVED FURTHER THAT certified copies of this resolution be provided to those concerned under the hands of a Director or Company Secretary wherever required."
For Axis Bank Limited
Girish V. Koliyote
Company Secretary