The private lender's board has approved the proposal to raise funds by issuing non-convertible debenture (NCDs) aggregating upto Rs 4,000 crore.
These fully paid, senior, rated, listed, unsecured, taxable, redeemable, long term NCDs have a base issue size of Rs 1,000 crore and green shoe option to retain oversubscription of Rs 3,000 crore, aggregating upto Rs 4,000 crore.
Axis Bank provides a complete suite of banking and financial services including retail banking, wholesale banking and treasury operations.
The bank company reported 3.72% rise in standalone net profit to Rs 6071.10 crore on 25.06% increase in total income to Rs 33515.96 crore in Q3 FY24 over Q3 FY23.
Shares of Axis Bank fell 0.29% to currently trade at Rs 1,096.20 on the BSE.
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