Axis Bank to raise up to Rs 5,000 crore via NCDs

Private sector lender Axis Bank on Friday said it plans to raise Rs 5,000 crore through Non-Convertible Debentures (NCDs) to fund business growth. This is part of the bank's board-approved Rs 35,000 crore fundraising plan via the issue of debt securities on a private placement basis. The bank proposes to raise funds by issuing fully paid, senior, rated, listed, unsecured, taxable, redeemable, long-term Non-Convertible Debentures up to Rs 5,000 crore on a private placement basis, Axis Bank said in a regulatory filing.