Axis Bank to raise up to Rs 15,000 crore via non-convertible debentures

Axis Bank, the private sector lender said it will seek shareholders' approval for raising up to Rs 15,000 crore by issuing long-term bonds or non-convertible debentures to select investors in the domestic market.

The bank informed the Bombay Stock Exchange (BSE) that it seeks to raise the fund on "private placement bases, in one or more tranches, as per the structure and within the limits permitted by the RBI, of an amount not exceeding Rs 15,000 crore".

Axis Bank had reported an 18.4 per cent rise in its net profit to Rs 1,899.76 crore for the third quarter ended December 2014-15.

The third largest private sector bank's net profit in the corresponding October-December quarter of last fiscal was Rs 1,604.11 crore.

The gross NPAs of the bank stood at 1.34 per cent in the third quarter, over 1.25 per cent in the year ago period. Net NPAs also rose marginally to 0.44 per cent from 0.42 per cent during the period under review.