Axis Bank has proposed to raise funds by issuing senior unsecured taxable redeemable non- convertible debentures (NCDs) aggregating upto Rs 5000 crore.
The NCDs will have a face value of Rs 10 lakh each. The base issue size is Rs 2,000 crore, with a green shoe option to retain oversubscription of Rs 3,000 crore.
Axis Bank is a private sector bank offers the entire spectrum of financial services to customer segments covering large and mid-corporates, MSME, agriculture and retail businesses.
The private bank's net profit surged 86.21% to Rs 3133.32 crore on 2.99% increase in total income to Rs 20134.39 crore in Q2 FY22 over Q2 FY21.
The scrip fell 3.79% to currently trade at Rs 662.95 on the BSE.
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