Axis Bank May Raise Rs 35,000 Crore For Expansion

Axis Bank plans to raise funds worth Rs 35,000 crore in about a year's time on a private placement basis from Indian as well as overseas markets. The leading private sector bank in its annual report for 2016-17, had said that it might raise additional funds to maintain its capital to risk-weighted assets ratio.

The bank may issue debt securities denominated in Indian rupees or any other permitted foreign currency including long-term bonds, green bonds, non-convertible debentures.

The board of directors approved the fund-raising plan in its meeting held on April 26, 2017. The annual general meeting of the company is scheduled to be held on July 26, 2017.

Meanwhile, Axis Bank was trading higher by 0.9% at Rs 512.10 per share at 1054 hours on BSE. It hit a high of Rs 512.70 and a low of Rs 509.10 so far during the day. 

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