/ Axis Bank To Raise Rs 5,000 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 16 June 2017

The private sector bank, Axis Bank’s board approved the bank’s plans to raise a sum worth Rs 5,000 crore by allotting debentures on a private placement basis.

According to its regulatory filing, the Axis Bank will be issuing bonds and allotting 50,000 unsecured, redeemable non-convertible debentures and Basel III compliant tier III debentures to raise the funds.

According to the Basel III Capital Regulations, banks are required to improve their capital planning process, making it stronger in order to resolve any concerns related to the stress on asset quality and the consecutive influence of a weakened asset quality on the performance and profitability of the banks. 

Axis Bank will be listing the debentures in the wholesale debt market segment of BSE as well as NSE. Most of the rating companies including Crisil, ICRA and India Ratings have rated the bonds ‘AAA’, showcasing an extraordinary level of credit-worthiness. 

At 09:35 hrs IST, the stock quoted Rs 511.20, up by 0.62% on the BSE. 

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