Axis Bank Limited Issuance of Non Convertible Debentures

RNS Number : 3389F

Axis Bank Limited

01 March 2024

 

 

 

AXIS/CO/CS/649/2023-24

 

March 1, 2024

 

Dear Sir(s),

 

Sub:	Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations")

 

This is in reference to our letter no. AXIS/CO/CS/53/2023-24 dated April 27, 2023, wherein Axis Bank Limited ("the Bank") had intimated that the Board of Directors of the Bank at its meeting held on April 27, 2023, had authorized borrowing/raising of funds in Indian / Foreign currency by issue of debt Instruments including but not limited to long term bonds, non-convertible debentures, perpetual debt instruments, AT 1 Bonds, infrastructure bonds and Tier II capital bonds or such other debt securities as may be permitted under RBI guidelines from time to time up to an amount of Rs. 35,000 crore (Rupees Thirty Five Thousand Crore only) in terms of Section 42 of the Companies Act, 2013, the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and the Listing Regulations, subject to the approval of the members of the Bank at the 29^th Annual General Meeting of the Bank ("AGM").

 

We also refer to our letter no. AXIS/CO/CS/235/2023-24 dated July 28, 2023, informing that all the resolutions (including the above) as set out in the notice convening the AGM dated June 16, 2023, had been passed by the shareholders with the requisite majority, at their 29^th AGM held on July 28, 2023.

 

We now wish to inform you that the Bank proposes to raise funds by issuing Fully Paid, Senior, Rated, Listed, Unsecured, Taxable, Redeemable, Long Term Non-Convertible Debenture (Series -7) Base Issue size of Rs 1,000 crore (Rupees One Thousand Crore) and green shoe option to retain oversubscription of Rs 3,000 crore (Rupees Three Thousand Crore) thereby aggregating upto Rs. 4,000 Crore (Rupees Four Thousand Crore).

 

This is for your information and records.

 

Thanking You.

 

With warm regards,

 

For Axis Bank Limited

 

 

 

 

Sandeep Poddar

Company Secretary

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