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Tuesday, January 20, 2015

Axis Bank to raise up to Rs. 15,000 cr via bonds

Axis Bank on Tuesday announced that its Board has approved to issue bonds or debentures to the tune of Rs. 15,000 crore.

The third largest private bank informed the BSE on the outcome of its board meeting that, "The Board of Directors of the Bank at its meeting held on January 16, 2015, has approved issuance of Long Term Bonds / Non-convertible debentures up to Rs. 15,000 crore on a private placement basis."

"The approval of shareholders of the Bank in terms of the provisions of Companies Act 2013 is proposed to be obtained by way of Postal Ballot," the filing on the exchange said.

Source : Thehindubusinessline


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