Axis Bank has received approval for raising funds up to Rs 18,000 crore through an issue of equity shares, depository receipts or convertible securities. The Board of Directors of the bank at its meeting held on July 20, 2019, approved the same. The fund will be raised subject to shareholder's approval to the fund raising proposal through postal ballot process.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
