Axis Bank to raise up to Rs 4,175 cr via NCDs
"The committee of whole-time directors of the Bank, today approved the allotment of 41,750 senior unsecured redeemable non-convertible debentures of the face value of Rs 10 lakh each, for cash, at par aggregating to Rs 4,175 crore," Axis Bank said in a regulatory filing.
The coupon rate for the issue will be 7.65 per cent per annum, the filing added.
The said debentures rated 'AAA/Stable' by rating agencies CRISIL and ICRA, will be listed on the wholesale debt market segment of BSE and NSE, the filing said.The shares of Axis Bank were trading at Rs 729.80 a piece on BSE, down 0.75 per cent from the previous close. SID DRR