Axis Bank allots over 1.68 lakh equity shares under ESOP; Stock under pressure

11 Jan 2023 , 01:05 PM

Axis Bank has informed to the exchanges regarding allotment of equity shares under ESOP.

As per the filing, the Bank has allotted 1,68,498 equity shares of Rs. 2/- each of the Bank on January 10, 2023 pursuant to exercise of stock options under its ESOP Scheme.

The paid-up share capital of the Bank has accordingly increased from to Rs615,05,00,614 (307,52,50,307 equity shares of Rs. 2/- each) to Rs615,08,37,610 (307,54,18,805 equity shares of Rs2/- each).

Recently, the bank announced that it has revised its agreement in response to IRDAI guidance and will acquire the remaining stake in Max Life Insurance at fair market value using discounted cash flows rather than valuation.

At around 1:08 PM, Axis Bank was trading at Rs948.45 per share lower by 0.36% on the BSE.

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