Axis Bank plans ₹5,000 crore debt raise via NCDs

Axis Bank Limited announced its intention to raise up to ₹5,000 crore through the issuance of Fully Paid, Senior, Rated, Listed, Unsecured, Taxable, Redeemable, Long Term Non-Convertible Debentures (Series - 9) on a private placement basis. This follows approvals from its board of directors and members to raise up to ₹35,000 crore in debt securities.

The proposed fundraise includes a base issue of ₹2,000 crore, with a green shoe option to retain oversubscription of ₹3,000 crore, bringing the total aggregation to ₹5,000 crore. This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The debenture issuance is part of Axis Bank's strategy to enhance its financial resources.