ETMarkets.comAxis Bank proposes to raise Rs 12,000 crore through issuance of Tier-II bonds, the bank said on Wednesday.
The offer comprises a base issue of up to 1,000 bonds, aggregating to Rs 1,000 crore, with a green shoe option to retain oversubscription of up to Rs 11,000 crore, the bank said in a release.
This is part of the Rs 35,000-crore fundraising plan of the lender through debt instruments, for which board approval was received in April. Pricing details of the bond issuance was not disclosed by the lender.
On Wednesday, shares of Axis Bank ended 1.1% higher at Rs 914.65 on the National Stock Exchange.
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The offer comprises a base issue of up to 1,000 bonds, aggregating to Rs 1,000 crore, with a green shoe option to retain oversubscription of up to Rs 11,000 crore, the bank said in a release.
This is part of the Rs 35,000-crore fundraising plan of the lender through debt instruments, for which board approval was received in April. Pricing details of the bond issuance was not disclosed by the lender.
On Wednesday, shares of Axis Bank ended 1.1% higher at Rs 914.65 on the National Stock Exchange.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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