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Board of Axis Bank approves private placement of NCDs aggregating Rs 5000 cr

Capital Market 

At meeting held on 15 June 2017

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

First Published: Thu, June 15 2017. 21:05 IST