Investment2 Mar 2024, 01:00 am
Axis Bank Proposes to Raise Funds through Debenture Issue worth Rs. 4,000 Crores
AI Summary
Axis Bank Limited has announced its intention to raise funds by issuing listed, unsecured, taxable, redeemable, long term non-convertible debentures. The base issue size is Rs. 1,000 crores, with an option to retain oversubscription up to Rs. 3,000 crores. The proposal is subject to regulatory approvals and shareholder approval at the AGM.
Key Highlights
- Axis Bank plans to issue debentures worth up to Rs. 4,000 crores
- Funds will be raised throughlisted, unsecured, taxable, redeemable, long term non-convertible debentures
- Base issue size is Rs. 1,000 crores, with a green shoe option for oversubscription up to Rs. 3,000 crores
- The proposal is subject to regulatory and shareholder approvals