Millennium Post

Axis Bank eyes up to Rs 15,000 cr via private placement

Private sector Axis Bank on Saturday said that it will seek shareholders’ nod for raising up to Rs 15,000 crore by issuing long-term bonds or non-convertible debentures to select investors in the domestic market. The bank informed BSE that it seeks to raise the fund on “private placement bases, in one or more tranches, of an amount not exceeding Rs 15,000 crore”.

Axis Bank had reported an 18.4 per cent rise in its net profit to Rs 1,899.76 crore for the third quarter ended December 2014-15. The third largest private sector bank’s net profit in the corresponding October-December quarter of last fiscal was Rs 1,604.11 crore.
PTI

PTI

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