Axis Bank has sought approval of shareholders to raise Rs 35,000 crore through multiple instruments including green bonds and from overseas markets. The approval would be sought at Axis Bank's 22nd Annual General Meeting of shareholders on July 22. The bank has sought shareholders' nod through a special resolution to raise these funds.
According to an AGM notice, the bank has sought approval "for borrowing/raising funds in Indian currency/foreign currency by issue of debt instruments...up to Rs 35,000 crore in domestic and/or overseas market." The bank said the capital could be raised within a period of 12 months from the passage of the resolution. Axis Bank said it is open to raise the funds by various instruments including subordinated debt, senior unsecured long term bonds, green bonds, medium term notes and non-convertible debentures.
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