Last checked at 28 Apr 2022 12:51
AXIS/CO/CS/44/2022-23
April 28, 2022
Dear Sir(s),
SUB: OUTCOME OF BOARD MEETING OF AXIS BANK LIMITED ("BANK") HELD ON APRIL 28, 2022
Further to our letter dated April 8, 2022, we would like to inform you that the Board of Directors of Axis Bank Limited ("Bank") at its meeting held today, viz. April 28, 2022, inter alia, transacted the following business:
(A) AUDITED FINANCIAL RESULTS
Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, reviewed and approved the Audited Standalone and Consolidated Financial Results of the Bank for the quarter and year ended March 31, 2022.
A copy of said results along with press release, and the earnings presentation are enclosed herewith for your information and records. The same are being uploaded on the website of the Bank i.e. www.axisbank.com.
The Audit Report issued by the Joint Statutory Auditors on the standalone and consolidated financial results for the year ended March 31, 2022, is also enclosed. We would like to confirm that the Joint Statutory Auditors of the Bank, have issued Audit Report with 'Unmodified Opinion' on the standalone and consolidated financial results of the Bank for the year ended March 31, 2022.
Please note that the board meeting commenced at 2.00 p.m. and the results were reviewed and approved by the Board of Directors at 4.30 p.m.
(B) DIVIDEND
Recommended final dividend of Re. 1/- per equity share of face value of Rs. 2/- each for the financial year 2021-22, subject to approval of the members at the ensuing 28th Annual General Meeting ("AGM"). The dividend, if approved by the members, will be paid on or after five days from the date of conclusion of the ensuing AGM.
The AGM date and book closure date for the purpose of the payment of final dividend will be announced in due course.
(C) BORROWING/FUND RAISINGS
(i) Approved increase in limit of the Bank upto an amount of Rs. 2,50,000 crore (Rupees two lakh fifty thousand crore only), for borrowings (apart from deposits of money accepted from public in the ordinary course of its business, temporary loans repayable on demand or within six months from the date of the loan, if any, obtained from the Bank's bankers) in terms of Section 180 (1)(c) of the Companies Act, 2013 and Article 54 of the Articles of Association of the Bank, subject to the approval of the members of the Bank.
(ii) Authorized the Bank to borrow/ raise funds in Indian / Foreign Currency by issue of debt Instruments including but not limited long term bonds, 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 RBI guidelines from time to time up to an amount of Rs. 35,000 crores (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 Listing Regulations, subject to approval of the members of the Bank.
This is for your information and records.
Thanking you,
Yours Sincerely,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl: As above
http://www.rns-pdf.londonstockexchange.com/rns/7384J_1-2022-4-28.pdf