Private sector lender Axis Bank plans to raise up to Rs 50,000 crore through debt securities and equity share to maintain an adequate level of capital for risk-weighted assets and fund business growth.
Under the proposal, Axis Bank will raise Rs 35,000 crore through debt securities in Indian or foreign currency, while Rs 15,000 crore to be raised through the issuance of equity shares or securities convertible into equity shares, Axis Bank said in a regulatory filing.
The board of bank has already approved the capital mop-up.
The private sector lender said its annual general meeting (AGM) is to be