Axis Bank proposes to issue Unsecured Redeemable Debentures

22/11/2016 09:35

Axis Bank Ltd has said that it has proposed to raise funds by issuing Unsecured Redeemable Non-Convertible Subordinated Debentures (Basel- III Compliant Tier II Debentures) (Series – 25) of the face value of Rs. 10 lakh each for cash at par aggregating to Rs. 1800 Crores (Rupees Eighteen Hundred Crore only).

“The Board of Directors of the Bank will consider the proposal to issue and allot the above Securities through Circular Resolution,” the company said in a filing to the Bombay Stock Exchange.

Meanwhile, shares of the bank were trading at Rs 467.35 apiece, up 0.32 per cent from the previous close at 09:40 hrs on BSE.

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