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Axis Bank proposes to raise Rs 5,000 cr via debentures

Press Trust of India  |  New Delhi 

today said it proposes to raise Rs 5,000 crore through debentures to fund business expansion.

The bank proposes to raise funds by issuing Senior Unsecured Redeemable Non-Convertible Debentures of Rs 10 lakh each for cash at par aggregating to Rs 5,000 crore, said in a regulatory filing on stock exchanges.

The board will consider the proposal to issue and allot these securities through circular resolution, it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 20:48 IST