Private sector lender Axis Bank, on Thursday, said it plans to raise ₹4,175 crore through non-convertible debentures on a private placement basis.
“The committee of whole-time directors of the bank today approved the allotment of 41,750 senior unsecured, redeemable, non-convertible debentures of the face value of ₹10 lakh each for cash aggregating to ₹4,175 crore,” Axis Bank said in a regulatory filing.
The coupon rate for the issue will be 7.65 per cent per annum, the filing added. The debentures will be listed on the Wholesale Debt Market segment of the BSE and National Stock Exchange.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.