Axis Bank plans to raise up to Rs 4,175 cr through NCDs on private placement basis; shares down

The shares of Axis Bank were trading at Rs 729.80 a piece on BSE, down 0.75 percent from the previous close.

Press Trust of India January 30, 2020 13:23:05 IST
Axis Bank plans to raise up to Rs 4,175 cr through NCDs on private placement basis; shares down
  • The committee of whole-time directors of the bank approved the allotment of 41,750 senior unsecured redeemable NCDs of the face value of Rs 10 lakh each, for cash, at par aggregating to Rs 4,175 crore

  • The coupon rate for the issue will be 7.65 percent per annum, the filing added.

  • The shares of Axis Bank were trading at Rs 729.80 a piece on BSE, down 0.75% from the previous close

New Delhi:  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, on Thursday 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 percent 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.

The shares of Axis Bank were trading at Rs 729.80 a piece on BSE, down 0.75 percent from the previous close.

Updated Date:

also read

FIPB clears Axis Bank proposal to raise FDI limit to more than 49%
Business

FIPB clears Axis Bank proposal to raise FDI limit to more than 49%

The Foreign Investment Promotion Board (FIPB) today approved a proposal of Axis Bank to increase the limit on overseas holdings in the lender to more than 49 percent.

IBM Helps Axis Bank Transform Its Contact Centre
Biztech

IBM Helps Axis Bank Transform Its Contact Centre

IBM will consolidate and manage the contact centre operations from the bank's existing 58 regional asset centers to a single mortgage contact centre.

SunTec Streamlines Axis Bank's Billing Processes
Biztech

SunTec Streamlines Axis Bank's Billing Processes

SunTec's solution will help Axis Bank manage fee billing for Payment and Cash Management.