The private sector Axis Bank has raised Rs 1,500 crore through Basel complaint tier-II debentures.

The Board of Directors of Axis Bank has allotted these non-convertible subordinated debentures on private placement.

It said in a BSE filing ,”Allotted 15,000 unsecured redeemable non-convertible subordinated debentures (Basel-III Compliant Tier II debentures) of face value Rs 10 lakh each for cash at par aggregating to Rs 1,500 crore on a private placement basis.”

It further said that the debentures will be listed on the Wholesale Debt Market segment of the BSE and NSE.

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