Axis Bank’s Committee of Whole-time Directors has approved the allotment of 3,85,100 long-term non-invertible debentures (NCDs) aggregating to ₹3,851 crore at a coupon rate of 7.64 per cent payable annually on a private placement basis.
The NCDs, which have a face value of ₹1 lakh each and are fully paid, senior, rated, listed, unsecured, taxable, and redeemable, will be listed on the BSE and NSE. The date of allotment of the NCDs is March 7.
“Interest will be payable annually on March 7 each year until the maturity of the debentures. The debentures are redeemable at par at the end of 10 years — that is, on March 7, 2034,” per the bank’s regulatory filing.