In a bid to fund business growth, Axis Bank is planning to raise Rs 35,000 crore debt instrument, including in foreign currency. The decision in this regard will be taken at the annual general meeting held on July 20. The board has already given an approval to raise funds in Indian or foreign currency by issue of debt instruments including but not limited to long-term bonds, non-convertible debentures, perpetual debt instruments and tier-II capital bonds up to an amount of Rs 35,000 crore.
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.