Axis Bank Ltd.

Axis Bank, a private sector lender, has raised Rs 1,500 crore through Basel complaint tier-II debentures. The board of directors has allotted 15,000 unsecured redeemable non-convertible subordinated debentures (Basel-III Compliant Tier II debentures) of face value Rs 10 lakh each for cash at par aggregating to Rs 1,500 crore on a private placement basis.

The debentures will be listed on the Wholesale Debt Market segment of the BSE and NSE.  The debentures are rated ‘AAA’ by CRISIL, CARE and ICRA.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.