Axis Bank proposes to raise Rs 5,000 crore via debentures

Axis Bank proposes to raise funds by issuing debentures of Rs10 lakh each for cash at par aggregating to Rs5,000 crore


Photo: Priyanka Parashar/Mint
Photo: Priyanka Parashar/Mint

New Delhi: Axis Bank on Wednesday said it proposes to raise Rs5,000 crore through debentures to fund business expansion.

The bank proposes to raise funds by issuing Senior Unsecured Redeemable Non-Convertible Debentures of Rs10 lakh each for cash at par aggregating to Rs5,000 crore, Axis Bank said in a regulatory filing on stock exchanges.

The board will consider the proposal to issue and allot these securities through circular resolution, it said.

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