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Private sector Axis Bank will raise $16.2 million (Rs 106 crore) by floating bonds through its Dubai financial centre branch.
The board of directors has passed resolution approving allotment of 1 year senior fixed rate notes of $ 16,200,000, Axis Bank said in a regulatory filing.
The bonds are to be floated under its medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch.
Earlier in February, the bank had said it planned to raise $ 10 million through the MTN programme from DIFC.
Stock of Axis Bank closed 0.72 per cent down at Rs 484.50 on BSE.
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