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Axis Bank plans to raise Rs 35,000 crore to fund expansion

In line with its growth projection in domestic as well as overseas operations, Private sector Axis Bank is planning to raise up to Rs 35,000 crore in about a year’s time. In this regard, the country’s third largest private sector lender may issue debt securities denominated in Indian rupees or any other permitted foreign currency including long term bonds, green bonds, non-convertible debentures on a private placement basis during the period of one year from the date of passing of the special resolution. The board of directors at its meeting held on April 26, 2017 had approved the fund raise plan.

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.

 

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