Axis Bank is planning to raise up to Rs 50,000 crore through debt securities and equity share to maintain adequate level of capital for risk weighted assets and fund business growth. Under the proposal, the bank will raise Rs 35,000 crore through debt securities in Indian or foreign currency, while Rs 15,000 crore to be raised through issuance of equity shares or securities convertible into equity shares.
The board of bank has already approved the capital mop-up. The bank’s annual general meeting (AGM) is to be held on July 31, 2020 and it will seek shareholders' approval for the proposals.
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.
