Axis Bank To Raise Rs 4,000 Crore Via Non-Convertible Debentures

The board of directors of Axis Bank Ltd. approved the raising of Rs 4,000 crore via long-term bonds, non-convertible debentures and other debt instruments on Friday.

The funds will also be raised through Tier 1 bonds, infrastructure bonds Tier II capital bonds or other debt securities permitted under the RBI guidelines, the filings said.

Further, the bank plans to raise funds by issuing fully paid, senior, rated, listed, unsecured, taxable, redeemable, and long-term non-convertible debentures at a base price of Rs 1,000 crore.

The lender will also offer a greenshoe option of Rs 3,000 crore to retain oversubscription.

Shares of Axis Bank closed 2.20% higher at Rs 1,099.35 apiece on Friday, compared with a 1.72% rise in the benchmark BSE Sensex.