Axis Bank Ltd.

BSE: 532215 | NSE: AXISBANK
Large Cap | Bank - Private
1260.10
-35.25 (-2.72%)
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Axis Bank to raise up to Rs 1,800 crore to fund business expansion

Date: 22-11-2016

Axis Bank is eyeing to raise up to Rs 1,800 crore from debentures to fund business expansion. These debentures would be Basel III compliant. The Board will consider the proposal to issue and allot the above securities through circular resolution.

The Bank will raise funds by issuing unsecured redeemable non-convertible subordinated debentures of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1,800 crore.

Axis bank offers wide range of services such as Personal Banking, Corporate Banking, NRI Banking, Priority Banking, VBV - Online purchases using Credit Card and VBV / MSC - Online purchases using Debit Card. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.