Axis Bank Ltd.

Axis Bank has received an approval for a proposal relating to raising of funds up to Rs 15,000 crore to beef up capital buffers. This will be done through issue of equity shares or depository receipts or any other instruments or securities representing either equity shares and convertible securities linked to equity shares. The meeting of Board of Directors of the bank held on July 02, 2020 has approved the same.

It will include through qualified institutions placement or American depository receipts or global depository receipts programme, preferential allotment or such other permissible mode or combinations. The proposal is subject to the approval of shareholders at 26th annual general meeting of the bank to be held through video conferencing on July 31, 2020.

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.