Axis bank planning to raise ₹35000 crores for expansion

Axis Bank

To fuel its growth in the domestic and international market, Axis bank is planning to raise a total of approx ₹35000 crores over the next one year. The move was announced by the bank while the launch of its annal report. In the annual report 2016-17, it had stated that the bank might need to raise capital in a few instalments to maintain CRAR (Capital to risk weighted asset ratio).

The bank will consider both, the national and international investors for the amount. The fund raise has already been approved in the meeting of Axis bank stakeholders on April 26th, 2017. It plans to put it in front of the shareholders on July 26th, the day when Axis bank is holding its annual general meeting.

Axis Bank, which is the third largest private sector bank in the country, is planning to raise the amount against debt securities issued in INR or any other foreign currency, which is accepted by RBI. Axis Bank is also considering issuance of non-convertible debentures, long-term bonds and green bonds against the raised amount.