Axis Bank to raise up to Rs 4,175 cr via NCDs

NEW DELHI, Jan 30: Private sector lender Axis Bank on Thursday said it plans to raise up to Rs 4,175 crore through the issuance of non-convertible debentures (NCDs) 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 Rs 10 lakh each, for cash, at par aggregating to Rs 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 said debentures rated ‘AAA/Stable’ by rating agencies CRISIL and ICRA, will be listed on the wholesale debt market segment of BSE and NSE, the filing said.



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