Axis Bank to raise Rs.15,000 crore

Mumbai: Axis Bank Saturday said that it will seek shareholders' approval to raise Rs.15,000 crore through the issue of long-term bonds or non-convertible debentures to select investors.

According to a filing on the Bombay Stock Exchange (BSE), the bank said it will seek shareholders approval for issue of long-term bonds or non-convertible debentures on a private placement basis.

"The approval of the shareholders is sought for issue of long-term bonds or non-convertible debentures on a private placement basis up to Rs.15,000 crores," the filing said.

The filing further said that the bank plans to issue long-term bonds or non-convertible debentures in the domestic market, on a private placement basis, in one or more tranches, as per the structure and within the limits permitted by the Reserve Bank of India.