The bonds of face value of Rs 10 lakh each for cash would aggregate to Rs 3,500 crore.
Stock of Axis Bank closed 2.56 per cent down at Rs 444.60 on BSE.
New Delhi: Private sector Axis Bank has raised Rs 3,500 crore by allotting bonds on a private placement basis.
Axis Bank said its board of directors today approved the allotment of 35,000 unsecured, subordinated, perpetual, additional tier-I, Basel III compliant non-convertible debentures.
The bonds of face value of Rs 10 lakh each for cash would aggregate to Rs 3,500 crore, the bank said in a regulatory filing. The bonds will be listed on BSE and NSE.
"The said debentures are rated 'AA+' by India Ratings & Research Pvt Ltd 'AA (stable)' by Crisil Ltd," Axis Bank said. Stock of the company closed at Rs 3.23 per cent up at Rs 466.95 on BSE.
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