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Axis Bank Proposes To Raise Rs 5,000 Crore Through Debentures

The private sector bank said its board will consider the proposal to issue and allot these securities through circular resolution.
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Axis Bank wants to fund business expansion with the funds.
Axis Bank wants to fund business expansion with the funds.
New Delhi: Axis Bank on Wednesday said it proposes to raise Rs 5,000 crore through debentures to fund business expansion.

The bank proposes to raise funds by issuing senior unsecured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each for cash at par aggregating to Rs 5,000 crore, it said in a regulatory filing on stock exchanges.

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

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