On July 2, the foremost private sector lender, Axis Bank, informed that it was preparing to raise to Rs 15,000 crores through the issuance of various means.
The board of the bank has accepted the recommendation of raising funds not exceeding Rs 15,000 crores through equity shares/ depository receipts and/or any other instruments or securities, the bank confirmed in an exchange communication.
These devices could serve either equity shares and/or convertible securities linked to equity shares, including Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment, the bank further added.
Earlier, HDFC Bank declared intentions to raise to Rs 50,000 crores by the issuance of unsecured perpetual debt Instruments, Tier II Capital Bonds and Long Term Bonds in the domestic market in one or more phases.
Nevertheless, the bank will analyze “to Issue Unsecured Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (financing of infrastructure and affordable housing) on a private placement source and in this respect to consider and, if thought fit, to approve the following declaration, as a special resolution,” it concluded.