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Private sector lender Axis Bank, on Thursday, said it plans to raise ₹4,175 crore through non-convertible debentures 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 ₹10 lakh each for cash aggregating to ₹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 debentures will be listed on the Wholesale Debt Market segment of the BSE and National Stock Exchange.
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