Axis Capital

Banks have since November issued more tier-2 bonds than AT-1 bonds for the entire year

The current edition is focused on the broader theme of 'Indian SMEs: Shifting Gears for Next Level Growth'

Offer consists of fresh issue of 15.8 mn equity shares; bank is expected to raise Rs 832 crore at the upper end of the band; stock will start trading on Sept 15

Also, HDFC Bank and IIFL Securities will act as investment bankers and work with the government and handle the share sale offers, the official said

It's a fresh issue-cum-OFS; Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets are book running lead managers

The IPO comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an Offer For Sale of equity shares aggregating up to Rs 300 cr.

The company's initial public offer (IPO) is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, as per the DRHP

The IPO will mainly consist of new shares, and more bankers may be added as plans progress

Axis Entities will have the right to acquire another 7 per cent in the life insurance company, in or more tranches

Additionally, Axis Capital and Axis Securities will acquire 2 per cent and 1 per cent, respectively, shareholding in Max Life

Issue involves fresh fundraise of Rs 1,000 cr and Rs 750 cr secondary share sale by promoter T S Kalyanaraman and PE firm Warburg Pincus

The numbers are based on changes in the company's balance sheet since the financial year 2014-15 (FY15) and upto September 2019

Edelweiss Financial Services Ltd and Axis Capital will manage the company's initial share-sale. Shares of the company will be listed on the BSE and NSE.

The financing squeeze has already taken a toll on the country's economic expansion, which in turn erodes borrowers' capability to repay further

Analysts still peg growth for FY20 upwards of 30%, even as management turned cautious after Q1

The Board of Axis Capital in a meeting held on Tuesday accepted Mehta's resignation