
Axis Bank share hits record high on plan to raise ₹12,000 cr via bonds
The private lender plans to raise funds by issuing unsecured, rated, listed, subordinated, taxable, non-convertible, Basel III compliant Tier II bonds
The private lender plans to raise funds by issuing unsecured, rated, listed, subordinated, taxable, non-convertible, Basel III compliant Tier II bonds
The Chennai-based NBFC will utilise the funds to back liquidity needs of its institutional clients and will also lend to small businesses and its individual customers.
Founders expect policy action on issues concerning GST, debt financing norms, and tax reliefs.
The firm will use the funds to meet its working capital needs; it will also use it to set up new warehouses and scale up the supply chain of its recently launched milk subscription business.