The board of directors of Axis Bank on Thursday approved issuance of long-term bonds/non-convertible debentures up to Rs 6,000 crore on a private placement basis.
The bank will seek the approval of shareholders by way of postal ballot.
Currently, promoters hold 29.17 per cent stake in Axis Bank, while foreign institutional investors control 48.38 per cent stake.
Shares of Axis Bank jumped 2 per cent at Rs 401.65