At meeting held on 15 June 2017The Board of Directors of Axis Bank have on 15 June 2017 approved the allotment of 50,000 Unsecured Redeemable Non-Convertible Subordinated Debentures, Basel- III Compliant Tier 2 Debentures (Series - 27) of the face value of Rs.10 lakh each for cash at par aggregating to Rs. 5,000 crore, on a private placement basis. The said Debentures will be listed on the Wholesale Debt Market segment of the BSE and National Stock Exchange of India.
The said Debentures are rated 'CRISIL AAA' by CRISIL, 'ICRA AAA hyb' by ICRA and 'IND AAA' by India Ratings & Research (Ind-Ra).
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