Axis Bank set to raise up to Rs 4,175 crore through NCDs

Private sector lender Axis Bank is planning to raise up to Rs 4,175 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis.

Axis Bank

 

“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,” said Axis Bank in a regulatory filing.

The coupon rate for the issue will be around 7.65 percent per annum, the filing revealed. The said debentures rated ‘AAA/Stable’ by rating agencies CRISIL and ICRA, will be listed on the wholesale debt market section of BSE and NSE, the filing mentioned.

At 3:30 pm on Thursday, the stock of Axis Bank is trading at Rs 730.90, down by 0.59 percent against its previous close of Rs 735.35. Its 52-week high is recorded at Rs 826.55 and its 52-week low is Rs 622.60 on BSE

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for Elets BFSI Nextgen Virtual Summit and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.