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Construction : BudgetExpectation | August 2014 | Source : Construction Update

Axis Bank to raise Rs 60 Billion through bonds

Axis Bank has raise Rs 60 billion from bonds to fund its business growth. The board of Directors of Bank has approved issuance of long term bonds / non-convertible debentures (NCD) up to Rs 60 billion on a private placement basis. Axis Bank provide various services like loans, deposits, insurance, cash management services, treasury, investments, capital market, remittances, micro-finance, and rural banking. In previous year, Axis Bank was plans to raise Rs 6000 crore by offering 4.58 crore shares by various means, including Qualified Institutional Placement (QIP) or Global Depositary Receipt (GDR). Currently, promoters hold 29.17 per cent stake in Axis Bank, while foreign institutional investors control 48.38 per cent stake.
 
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